Saudi slips from ten-week high; small-caps dominate

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Saudi Arabia's measure slips from a ten-week high as investors book gains but small-caps dominate trading.

The banking sector index declines 0.4 percent. Alinma Bank and Dar Al Arkan slip 0.4 and 0.6 percent respectively, together accounting for nearly half of all shares traded.

The kingdom's benchmark sheds 0.1 percent to 7,155 points, facing technical resistance near 7,176 points, the previous peak hit on January 12. The market is still up 5.2 percent year-to-date but investors are now hesitating to increase risk as they wait for catalysts and first-quarter earnings.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Taking stock

Taking stock

Gulf stock markets have seen a dearth of IPOs since the global...

Steering clear of the stock markets

Steering clear of the stock markets

Listing was all the rage three years ago, but IPOs have since...

Egyptians vent post-revolt fury in litigation

Egyptians vent post-revolt fury in litigation

Bankers, stockbrokers say indiscriminate corruption probes may...

Most Discussed