The value of Saudi shares has decreased by 8.3%.According to al-Qaeda, the value of shares of 100 companies has decreased by 10% while the proportion of other shares was recorded at 7% and 5%.Shares were trading at 7.15 billion riyals. This is the largest transaction rate of shares in cash since September 2019.Gulf shares also saw a decline in the market. The Kuwait Stock Exchange recorded a decline of 10 percent, Dubai 7.9 percent and the Abu Dhabi market 5.4 percent.
The decline in the Gulf shares market is in the wake of a sharp fall in oil prices this past weekend.Oil prices fell ten percent last week. This was a record decline in oil prices since July 2017.Last week, oil prices fell amid fears about global crude oil demand. The decline is in the wake of the spread of the Corona virus. The Saudi shares market for the first time since November 2017 fell 7,000 points lower. General graph closed at 6846. Whereas, there was a drop of 621 points.
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