(MENAFN - Arab News) The Saudi stock market continued its downward trend, slipping 2.34 percent yesterday. Bears pushed the prices of Saudi stocks down and continued to win the race with high margin. General perception of the investors remained negative as Tadawul recorded a biggest intra-day decrease of 2012.
The Tadawul All-Share Index (TASI) fell further 176.03 points to close at 7,348.33. The index trimmed its year-to-date gains to 14.5 percent.
All sectors indices closed in the red, except the Transport sector, which advanced over 1.24 percent to close at 4,223.11.
On the other hand, 14 sectors lost 1633.74 points with Multi-Investment performing worst for the second consecutive day to reduce 4.08 percent, followed by Petrochemical Industries and Real Estate Development sectors, which declined by 3.47 and 3.28 percent respectively.
A turnover roughly of SR12 billion was recorded yesterday, an increase of 13.2 percent from previous level. Tadawul total volume set sold about 534.5 million shares as compared to 508.7 million shares of previous day.
Atheeb Telecom with a turnover of 84.2 million shares worth SR1.8 billion, capturing 16 percent of the market share, continued to dominate the trading activity at Tadawul.
Atheeb also switched its position from top gainer of previous couple of days to the biggest loser of the day, down 9.93 percent.