Saudi Arabia's bourse recovers some earlier losses with buying coming in at lower prices, but the index falls for a third straight day as a drop in oil prices weighs down sentiment.
The kingdom's index ends 0.3 percent lower at 7,359 points, trimming its 2012 gains to 14.7 percent. Petrochemical and banking bluechip stocks lead the decline. Heavyweight Al Rajhi Bank dips 0.7 percent and Bank AlBilad sheds 1.4 percent. Bellwether Saudi Basic Industries Corp (SABIC) slips 0.3 percent, while small-cap Nama Chemicals drops 9.9 percent.
"The market was much more stable today but the impact of lower oil prices came through to petrochemicals," says Muhammad Faisal Potrik, research analyst at Riyad Capital.
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