TASI ends Sunday’s session 142 points lower due to worse business sentiment

(MENAFN) Saudi Arabia’s main index decreased on Sunday as stockholders shied away from the market because of reducing business sentiment and doubt in worldwide request.

The Tadawul All Share Index dropped 142 points to end at 10,796, whereas the similar market, Nomu, dropped 300 points to close at 18,866.

Of the 219 firms registered on TASI on Sunday, 33 surged, whereas 173 fell. The overall exchange turnover finished at SR2.58 billion (USD690 million). It had dropped to SR1.7 billion in the opening three hours of exchange on Sunday.

The first vital declaration on the bourse came from SNB Capital, the top manager of Saudi Aramco Base Oil Co., also known as Luberef, aiming at continuing with an initial public proposing and registering of its regular stocks on the benchmark market.

The announcement mentioned that the proposal is estimated to trade current stocks and result in a free float of 29.65 percent of Luberef share capital or 50.05 million regular stocks.


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