Riyadh: Saudi Arabian shares fluctuated between gains and losses yesterday on the first day of the trading week as food producers dropped while banks gained as earnings advanced due to lower provisions.
Almarai Co, Saudi Arabia's largest food producer by market value, and Savola Azizia United Co, the kingdom's second largest producer, paced the losses, while Al Rajhi bank, the largest publicly traded lender, and Samba Financial Group, the second- largest bank, led the gains.
The 146-company Tadawul All Share Index retreated less than 0.1 per cent to 6,653.61.
"The market is trying to position itself based on fourth-quarter results that were completed on Wednesday evening," Fuad Aghabi, investment director at Ajeej Capital in Riyadh, said.
