(MENAFN- Khaleej Times) Â Saudi Arabia's stock index closed little changed on the first day of trading since the US Federal Reserve said it was prepared to begin phasing out its economic stimulus programme.
Declines in petrochemical stocks kept the market lower until the final hour of trading as finance and real estate shares rallied. Dar Al Arkan Real Estate Development matched the highest level in almost a year and Samba Financial Group closed at the most since June 8. Mobile Telecommunications of Saudi Arabia, known as Zain Saudi Arabia, climbed to the most since June 12.
The Tadawul All-Share Index gained less than 0.1 per cent to 7,527.36 at the 3:30pm close in Riyadh. Dar Al Arkan climbed 3.4 per cent to SR10.55, while Samba shares increased one per cent to SR50.5. Zain rose three percent to SR10.2.
Saudi Basic Industries Corp led laggers, dropping 0.8 per cent to SR92.25, the biggest drop in a week.
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