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Saudi Stock market is down due to the Russian invasion of Ukraine

Russia-Ukraine conflict and the broader impact on global energy markets

In light of the practically universal loss in the sectors, the Saudi stock market began today’s session with a notable drop.

With the start of Russian operations in Ukraine, a tsunami of losses slammed global and regional stock markets.

By 10:30 KSA, the general market index “TASI” had dropped 1.87 percent, or 234 points, to 12,293.55 points.

Until now, 80 million shares worth 2.83 billion riyals have been traded through 100,000 transactions.

All sectors were in the red, except the media and entertainment industry, which rose 0.22 percent against the trend.

The banking industry lost 2.17 percent, the telecoms sector lost 1.85 percent, and the energy and basic materials sectors both lost 0.67 percent and 1.6 percent.

The Saudi stock market, known as “Tadawul,” concluded yesterday’s session 0.27 percent lower than the previous session, under direct pressure from the banking and telecommunications industries, as well as a drop in liquidity.

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