Saudi Gazette report

RIYADH — The Saudi stock market main index, Tadawul All Share Index (TASI), ended on Tuesday trading lower, losing 79 points and closed at 12,182 points. This marks the highest rate of decline since the beginning of August with a liquidity of about SR8.4 billion ($2.24 billion).

The decline came under pressure from the Saudi Aramco share, the heavy weight on the index, which fell by 0.36 percent to SR27.85, in addition to the ACWA Power share, which recorded a decline of 1.4 percent to SR414.

Shares of most Saudi banks also declined, led by Al-Rajhi, which fell to SR88, down one percent. Meanwhile, Al-Ahli shares fell two percent to SR36.05. Shares of Al-Awwal Bank, Alinma Bank, Al-Bilad Bank, Riyad Bank, and BSF fell by 1 to 2 percent.

Shares of Sahara International Petrochemical Company (Sipchem) also declined by 0.85 percent to SR29. The company announced on Tuesday the award of engineering and construction contracts worth $169 million for the expansion of its propylene and polypropylene plants.

On the other hand, Red Sea shares rose by 8 percent to SR41.40. Jamjoom Pharma shares achieved their highest closing price since listing at SR176 after rising by about 3 percent during Tuesday’s trading, bringing their gains since the beginning of this year to more than 50 percent.