The Saudi stock market continued its decline for the third session in a row as the negative performance of all major sectors, while the number of shares fell to unprecedented levels.
The Saudi index ended the first session of the week in red, and closed down 0.42% to lose 33.18 points of its value and drop to the level of 7915 points.
The "growth" index ended its trading on a decline of 0.09%, to close at 2688.8 points.
The decline in the general index of the stock market fell 15 sectors led by the sector, "consumer services," which fell by about 2%, and the sector of commercial services and professional, which fell by 1.37%, according to "Mubasher Info".
Losses included 106 stocks, while Telecommunications was the biggest loser, losing 1.07%.
The Basic Materials and Banks sector declined by 0.6% and 0.41% respectively. Al Rajhi Bank and SABIC closed down 1%.
Data showed that the shares of eight companies recorded the lowest price in 52 weeks.
Emaar fell for the seventh session, the lowest close in more than two and a half years. Arab Cement also recorded the lowest close in more than seven years.
Observers believe that the Saudi market is experiencing a severe recession due to poor liquidity and losses suffered by cement companies and other companies.
The cement sector posted an annual decline of 65% during the first half of this year to reach SAR 402.2 million ($ 107.2 million).
This was also accompanied by a decline in the performance of the construction sector, whose companies lost 350 million Saudi riyals in the same period.