TASI falls by more than 150 points ahead of final MSCI upgrade

27/08/2019 Argaam

 

Saudi Arabia's Tadawul All Share Index (TASI) dropped 1.5 percent, or 126 points, to 8,132 points in early trade on Tuesday.

 

The local equity market will extend today, Aug. 27 the closing auction and trade-at-last sessions for 20 minutes each, ahead of the final tranche inclusion in MSCI as an emerging market.

 

Heavyweight Al Rajhi Bank fell 2 percent to SAR 63.20. Petrochemicals giant SABIC shed 1 percent to SAR 98.40.

 

Tasnee, Saudi Kayan, National Commercial Bank, SABB, Riyad Bank, Saudi Telecom and insurance firm Tawuniya saw declines between 1 percent and 5 percent.

 

On the other hand, NADEC and Middle East Specialized Cables Co. (MESC) topped gainers, rising 2 percent to SAR 24.42 and SAR 9.60, respectively.

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