The overall index of the Saudi Stock Exchange fell 1.92 percent (228 points) to 11,602 points about an hour after opening on Sunday, in the first session of the week.
According to the monitoring of exchange data by the Turkish agency Anadolu, the decline in the Saudi index occurred today against the backdrop of a collective fall in the sectors that make up the exchange.
The share of Saudi Aramco, the largest in the market 0.5%, and Al-Rajhi Bank, the second largest in the index, 2.3%; The third national bank declined 1.7 percent by weight, with most listed banks down more than 1 percent.
The index rose significantly during the first five months of 2022, helped by the growth of the banking sector, which benefited from higher interest rates, as well as the growth of energy and petrochemical companies as a result of rising oil prices.
Although it later eased more than 15 percent on fears of a US economic slowdown as a result of expectations of monetary tightening after US inflation surged at a faster-than-expected rate to 8.3 percent in August compared to 8.1 percent, which were expected.
Despite this, the index remains up about 3 percent since the start of the year.
Source: El Iktisad
