TASI extends losses in volatile trading

Saudi Arabian shares closed slightly lower on Monday following volatile trading throughout the session. The Tadawul All Share Index (TASI) was 0.3 percent lower at 6,968.

Volumes slipped to SAR 2.7 billion while the advances-declines ratio was 53/108.

Energy and capital goods underpinned the index retreat while banks extended losses from the previous session.

National Commercial Bank dropped nearly 2 percent to SAR 38.30 while Al Rajhi Bank was slightly lower at SAR 63.25. Riyad Bank slipped 1 percent.

Among energy stocks, Petro Rabigh fell 1.5 percent to SAR 12.70 while Aldrees fell nearly 2 percent.

Elsewhere, among petrochemicals Chemanol fell nearly 3 percent to SAR 6.95 while Petrochem slipped 2 percent. Sector heavyweight SABIC fell slightly to SAR 96.75.

Red Sea topped the gainers list, up over 3 percent to SAR 26.10.

Makkah Construction and Development Co. rose 2 percent to SAR 107.75, its highest close in nearly two years. The stock has risen nearly 20 percent since the beginning of March.  

Write to Brinda Darasha at brinda.d@argaamplus.com