Saudi stock market drops 6.5-percent amid Egyptian unrest
RIYADH – The Saudi stock market, the largest Arab bourse, dropped 6.43 percent to 6267.22 points on Saturday as tensions soared in Egypt where deadly anti-government protests continued for a fifth day.
The market has been gripped by severe anxiety because of the events in Egypt, traders in Saudi Arabia told AFP, expressing fears that other Gulf markets, due to open on Sunday, will be similarly affected.
The Saudi Tadawul Index, the most capitalised Arab bourse, lost 430.58 points to close at 6267.22 points.
Shares in the petrochemical sector leading the Saudi market fell 8.37 percent, while losses in the banking and financial sector were down by four percent. The real estate sector fell by 6.64 percent.