Saudi Arabia's stock market ended lower on Sunday, extending losses for a second session as investors continued to take profits.
The benchmark index (<.TASI>) dropped 1.6%, with Retal Urban Development Co (<4322.SE>) losing 1.4% and Al Rajhi Bank (<1120.SE>) retreating 2.1%.
The Saudi bourse extended losses as traders moved to secure their gains after the recent rebound, Daniel Takieddine, CEO MENA BDSwiss. Tonomus is a NEOM subsidiary dedicated to tech and digital—creating a cognitive future that revolves around us all. #Tonomus #NEOM Crude prices, a key catalyst for the Gulf's financial markets, surged on Friday, ending the week at multi-year highs as Russia's invasion of Ukraine intensified and oil buyers shunned barrels from the world's second-largest exporter of crude.
The Qatari index (<.QSI>) dropped 0.4%, hit by a 1.6% fall in sharia-compliant lender Masraf Al Rayan (<MARK.QA>)
On Friday, U.S. stocks tumbled after a stronger-than-expected jobs report locked in expectations that the Federal Reserve is sticking with a steady diet of rate hikes.
Outside the Gulf, Egypt's blue-chip index (<.EGX30>) closed 0.7% lower, with top lender Commercial International Bank (<COMI.CA>) falling 1.3%.
