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RIYADH: Saudi stocks ended their first trading session of July in red, expanding on the market’s 11 percent loss in June as investors’ optimism was dampened by the fear of interest rate hikes.
As of Sunday’s closing bell, TASI fell 0.51 percent to reach 11,464, while the parallel market, Nomu, plunged 2.33 percent to 21,082.
This was led by a 0.39 percent decline in Saudi Aramco, the largest player on the Saudi oil market, and a 2.55 percent drop in the Kingdom’s largest valued bank Al Rajhi.
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