Other GCC markets also moved higher with banks winning back investors Saudi Arabian stocks snapped four days of consecutive losses with banking shares leading the advances while other GCC markets also traded higher as their lenders rebounded Image Credit: Bloomberg
Dubai: Saudi Arabian stocks snapped four days of consecutive losses with banking shares leading the advances while other GCC markets also traded higher as their lenders rebounded from a lacklustre performance in the previous session.
Saudi Arabia s benchmark index edged 0.1 per cent at 9,848 points with Alrajhi Bank and Riyad Bank moving upward by 0.8 and 2 per cent respectively. However, the gains were limited by weakness in material shares as petrochemical maker Sabic sagged 2.2 per cent as investors buying it on Wednesday will not entitle for the last declared payout and those selling it will do as the stock was trading ex-dividend.