Saudi index closes 1.1% lower below 8,400 pts; Petro Rabigh, Maaden fall 6% on results

21/01/2015 Argaam

Tadawul All Share Index (TASI) closed in the red on Wednesday, shedding 1.1 percent, or 90 points to finish at 8,394. 

 
The total value of shares changing hands reached SAR 6.9 billion.

Most Saudi stocks ended lower. SABIC and Al-Rajhi dropped almost 1 percent to SAR 77.87 and SAR 53.07, respectively.

Petro Rabigh and Maaden dived over 6 percent to SAR 18.40 and SAR 32.64, respectively after posting the Q4-2014 interim results.

On the positive side, Alujain rose above its daily limit, closing at SAR 19.70. The company reported a 92 percent leap year-on-year in Q4-2014 net profit to SAR 65.2 million.

The grace period that corporates have to disclose their annual financial results ends on Wednesday, as per the regulations of Saudi Arabia’s Capital Market Authority (CMA).

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