Closing Bell: Saudi bourse falls flat to seasonal year-end slowdown, closes at 10,323 

Closing Bell: Saudi bourse falls flat to seasonal year-end slowdown, closes at 10,323 

RIYADH: Saudi Arabia’s Tadawul All Stock Index on Wednesday fell flat to close at 10,276.94 points, swinging between a high of 10,323.38 at 10:10 a.m. Riyadh time and a low of 10,252.81 at 2.03 p.m. It also booked a decline of 8.91 percent or 1,004.77 points in its year-to-date performance. The lackluster show was predominant in the Gulf Cooperation Council region, where all the indices except one closed flat. Qatar Stock Exchange Index ended 33 points higher to close at 10,997.70 points. “TASI moved sideways after the market traded in a tight range in line with the rest of the GCC markets that witnessed marginal changes during the day,” Junaid Ansari, head of investment strategy and research at Kamco Invest, told Arab News. The advance-decline ratio, however, bucked the trend as 136 stocks of the listed 221 gained while 64 fell. The total trading turnover was SR3.54 billion ($940 million), down from Tuesday’s SR4.29 billion. “A third consecutive gain in oil prices also failed to have a significant positive impact on the regional markets,” said Ansari. Brent crude futures were up 93 cents at $80.92 a barrel by 1:30 p.m. Riyadh time, while US West Texas Intermediate crude futures gained