TASI slide continues, falls 2% in first hour of trading

Saudi Arabia's stock market continued to slide for the second consecutive day, as the majority of shares dropped.

The benchmark Tadawul All Share Index (TASI) slipped below the 9,000 mark on Monday, after falling over 2 percent, or 192 points, to 8,986 points in less than an hour of trading.

Nearly 17 million shares, worth SAR 423 million, were traded during the period, with the advance-decline ratio at 10:146.

TASI had fallen 1.7 percent to close at 9,179 points on Sunday.

Blue chip SABIC was down 1.6 percent to SAR 120.40, while banking major Al Rajhi shed 1.6 percent to SAR 72.10.

Riyad Bank was the top decliner, falling 7.2 percent to SAR 26.90.

SRMG was the top gainer for the second day in row, rising 9.3 percent to SAR 88.

Write to Parag Deulgaonkar at parag.d@argaamplus.com