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Saudi market sees declines in materials and real estate
The Saudi stock market experienced a notable decline of 1.30%, closing the index at 10,864.57 points amid heavy selling pressures across many sectors. Listed company Lubreev led the declines with a drop of 9.97%, reaching 127.3 riyals, with a trading value of 168.19 million riyals. This decline was accompanied by decreases in real estate, insurance, and petrochemical shares, influenced by fluctuations in raw material prices and a slowdown in global demand for the oil sector. The losses were concentrated among leading companies, and profit-taking led to varied decreases, while the market overall saw increased selling pressure and a decline in risk appetite.
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