Saudi Arabia's index made its largest drop in more than two months following a late sell-off, with volumes hitting a two-and-a-half year high. The stock benchmark Tadawul All Share Index dipped 1.3 percent Tuesday to close at 6,191.51 points, its largest decline since Oct 3. “The market trading value gave away a clear signal of liquidation,” said Tarek Al Mady, Riyadh-based financial analyst says. “Traders took it as a cue to sell.” Turnover topped SR6.4 billion ($1.71 billion). Crossing SR5 billion is a usual cue for retail investors to exit, he said. “When the traders see volumes rising, they worry about something changing,” added Al Mady Large-caps deepened their losses, with Saudi Basic Industries Corp (SABIC) and Samba Financial Group each down 1.3 percent, while Saudi Kayan Petrochemical slips 2 percent. Agriculture and construction stocks also tumbled. Index volumes were the highest since June 2009. Dubai's benchmark climbed 0.4 percent to 1,393 points, up in three of five sessions. In Abu Dhabi, the index closed 0.3 percent lower at 2,449 points. Qatar also dipped, down 0.4 percent to 8,764 percent. Oman's shares index slipped to 5,656 points. Kuwait index though edged up to 5,842 points.
