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Saudi market declines on petrochemical stocks
The Saudi stock market declined by 1.06% in the second session of the week, with widespread sell-offs among leading and mid-tier stocks, particularly in the energy and basic materials sectors. This decline was driven by technical pressures, fluctuations in raw material prices, and concerns about profit margins. The biggest drop was in the share of Ban, which fell by 7.31%, followed by Petro Rabigh with a 4.71% decrease, and Maaden with a 2.65% decline. The market also saw drops in stocks such as Yasnab, Riyad Cables, Saudi Pipes, and Sasco, amid profit-taking and portfolio adjustments.
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