The Saudi stock market declined as most Gulf markets gave back gains on Tuesday. Petrochemical stocks headed losses on the Saudi bourse, with Saudi Basic Industries Corp. (SABIC) and Saudi Arabian Fertilizers Co. (SAFCO) falling 0.89 percent to SR111 and 0.56 percent to SR178, respectively.
The Tadawul All-Share Index fell 0.38 percent to close at 6,694.14 points on Tuesday.
The petrochemicals index ended down 0.72 percent to 6,999.89 points, but analysts said it was likely to bounce back on the back of strong first-quarter earnings and high oil prices, Reuters reported.
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