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Sat 17 Nov 2012 12:49 PM

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Saudi shares close lower as SABIC drops 0.6%

Gulf kingdom's all-share index drops 0.4%, weighed by petchem and banking stocks

Saudi shares close lower as SABIC drops 0.6%

Saudi shares closed lower on Saturday, dragged down by losses in the petrochemical and banking stocks.

The all-share dropped 0.4 percent to 6,793 points and the petrochemical index shed 0.6 percent to 5,752 points.

Petrochemical giant Saudi Basic Industries (SABIC) dropped 0.6 percent.

The banking index shed 0.5 percent to 15,066 points and heavyweight Al Rajhi Bank lost 0.7 percent.

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