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

Saudi Arabia's measure slips from a ten-week high as investors book gains
By Reuters
Tue 26 Mar 2013 02:19 PM

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.

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