Saudi Arabia's index closed lower on Wednesday after touching a five-week high in the session, weighed down by large caps, while Dubai's market was pulled lower by builder Arabtec which posted a surprise quarterly loss.
Heavyweight Saudi Basic Industries dipped 0.6 percent and Etihad Etisalat slipped 0.4 percent. Banks were mixed, with Al Rajhi Bank gaining 0.3 percent, SABB up 0.9 percent and Banque Saudi Fransi rising 1.2 percent. However, Arab National Bank dropped 2 percent, with Riyad Bank down 0.2 percent.
Volumes have held up well in Saudi Arabia, despite the traditionally quiet holy fasting month of Ramadan which began in mid-July.
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