Saudi Arabia’s Tadawul All Share Index (KSA) remains volatile since the beginning of trading on Sunday, November 5 as shown by the graph below.
Here are the five stocks which have declined the most since the end of trading on November 2 and the close of the markets on November 6.
Abdul Mohsen Al-Hokair Tourism
The stock has declined 13.4% from the end of trading on November 2 until November 6. Though the broader index has bounced back, the stock has continued to decline.
Though the stock was not hit much by the end of trading on November 5, it tanked on the following day, thus making it the worst performer of the period.
The firm’s shares dived to one-year lows after media reports that Prince Al Waleed Bin Talal Al Saud, who owns 95% of the company, was arrested on corruption charges.
The stock was in the limelight and finished November 5 down by 8.1%. It tanked 12.5% the following day to make it the second-worst performing stock from the end of trading on November 2 until November 6, down 13%.
Aseer Trading, Tourism & Manufacturing
The company’s stock plummeted on November 6 after reports that two of its board members were detained in the anti-corruption crackdown that is sweeping Saudi Arabia.
The stock was the worst performing at the close of trading on November 5, down 8.7%. The succeeding day, it declined 11.6%. Since the end of trading on November 2, the stock has declined 10.8%.
Middle East Specialized Cables
Middle East Specialized Cables was the third biggeset decliner on November 5 behind Aseer Trading, Tourism & Manufacturing and Kingdom Holding.
Overall, until November 6, the stock has declined by 10.7%.
Gulf General Cooperative Insurance
After two successive sessions of over 6% declines, Gulf General Cooperative Insurance was the fifth worst hit stock on the Tadawul All Share Index by the end of trading on November 6.
Between November 2 and November 6, the stock has declined by 9.8%.
The company’s stocks are closely followed by Al Tayyar Travel Group Holding (-9.7%) and Arabia Insurance Cooperative Company (-9.6%).