Saudi traders track stock recordsdata on the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. REUTERS/Ahmed Yosri/File Describe

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Nov 21 (Reuters) – Saudi Arabia’s stock market fell sharply in early replace on Sunday, a day after Yemen’s Iran-aligned Houthis acknowledged that they had fired 14 drones at loads of Saudi Arabian cities, together with at Saudi Aramco facilities in Jeddah. learn more

Saudi Arabia’s benchmark index (.TASI) dropped 1.6%, with Al Rajhi Bank (1120.SE) taking flight 2.2% and Saudi Aramco (2222.SE) losing 1.6%.

The oil massive change into also below stress after India’s Reliance Industries Ltd (RELI.NS) acknowledged on Friday it had decided with the Saudi firm to reevaluate Aramco’s proposed roughly $15 billion investment in Reliance’s oil-to-chemicals (O2C) replace. learn more

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The 20% stake sale within the unit change into announced in 2019, but change into delayed as oil costs and build a question to crashed last twelve months because of the the pandemic.

The Abu Dhabi index (.ADI) lost 0.2%, hit by a 1% decline within the nation’s glorious lender First Abu Dhabi Bank (FAB.AD).

Dubai’s main share index (.DFMGI) gained 0.2%, on notice to upward push for a sixth session in seven, with logistic firm Aramex (ARMX.DU) placing on 2.4%.

In diversified locations, Amlak Finance (AMLK.DU) surged 15%, extending gains for a sixth session.

On Sunday, the Islamic finance firm swung to fetch earnings of 887.1 million dirhams ($241.55 million) for the third quarter, from a loss of 151.4 million dirhams twelve months within the past.

In Qatar, the index (.QSI) eased 0.2%, hit by a 1.2% fall in Business Bank (COMB.QA).

($1 = 3.6726 UAE dirham)

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Reporting by Ateeq Shariff in Bengaluru

Our Requirements: The Thomson Reuters Trust Solutions.

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