#Saudi stocks lead Gulf bourses down after oil slump - Arabianbusiness

Saudi stocks lead Gulf bourses down after oil slump - Arabianbusiness:

The Saudi stock market led Gulf bourses down on Tuesday, a day after US oil prices slumped to historic lows over sluggish demand, a supply glut and a lack of storage.

The Saudi Tadawul stock market, the largest in the Arab world, was 1.6 percent lower at the close.

Energy giant Saudi Aramco dropped 2.0 percent to stay well below its listing price of 32 riyals ($8.5) per share.

The Dubai Financial Market dipped 3.3 percent, while its sister bourse in Abu Dhabi was down 2.7 percent. Qatar's bourse lost 1.4 percent.

In Kuwait, the Premier index slumped 2.6 percent while the All-Shares index was down 1.9 percent at the close. 


The small Muscat bourse shed 1.2 percent while Bahrain stocks finished 0.4 percent lower.