RIYADH: Saudi stocks extended losses for a second straight day on Monday, due to investor worries over a potential global economic slowdown.
The main TASI index lost 0.5 percent to 12,255, while the parallel market Nomu edged down to 21,726 as of 10:09 am. Saudi time.
This was driven by losses in some of TASI’s biggest weights, with oil giant Aramco declining 0.5 percent and the biggest player in the banking sector, Al Rajhi Bank, down 04 percent.
Shares of telecom giant stc lost 0.6 percent after adding 6.4 percent a day earlier as its board proposed a SR30 billion ($8 billion) capital hike through granting bonus shares.
United Cooperative Assurance Co. added 3.6 percent to lead the gainers in early trading, while Saudi Real Estate Co. recorded the biggest drop of 3.6 percent.
Bupa Arabia for Cooperative Insurance surged 3.8 percent after its board recommended increasing capital to SR1.5 billion in support of future growth plans.
In energy trading, Brent crude fell to $120.07 a barrel and US West Texas Intermediate traded at $118.6 a barrel as of 10:01 a.m. Saudi time on Monday.
