Saudi Arabia's market closed on sharp declines after the index broke a key technical support, with most sectors
closing lower as a drop in world shares and oil prices hits sentiment.
The kingdom's index falls 0.8 percent to 6,975 points, breaking below the key psychological level of 7,000.
"Saudi moving from near 8,000 to dipping below 7,000 seems to be the case of summer starting early - clearly investors have lost their enthusiasm a little bit," says Julian Bruce, EFG-Hermes director of institutional equity sales.
"While you see pressure on oil prices and concerns over growth elsewhere, I don't see a short-term upside, especially considering that we're going into summer and then Ramadan."
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