Saudi stock market benchmark Tadawul All Share Index (TASI) TASI made its largest decline in two-months as some companies went ex-dividend and investors cashed in gains on other stocks. The index fell 0.67 percent to 6,759.47 points, its biggest fall since Feb. 6, declining for a third day since reaching a 17-month closing high on Sunday. Saudi Electricity Co plunged 6.4 percent after going ex-dividend and Saudi Arabia Fertilizers (Safco) fell 4.9 percent, extending a drop since passing a similar stage earlier this month. Saudi Basic Industries Corp (SABIC) fell 1.7 percent and Al Rajhi Bank slid 2.1 percent. “The momentum has slowed down as we head into earnings season,” said Saleh Al-Onazi, vice-president of principal investment at Swicorp in Riyadh. “There was a good rally in Q1, so a lot of investors would rather book profits now and avoid the potential of any nasty surprises. Volatility is increasing.” Elsewhere, Dubai index climbed 0.1 percent to 1,839 points. Abu Dhabi's index ADI ended higher for a second session in six, rising 0.4 percent to 2,848 points. Volumes slumped to a two-week low. Qatar's index rose 0.07 percent to 7,609 points, a six-month peak, despite losers outnumbering gainers by 13 to five. Kuwait's index reached a 24-week closing high, rising 0.3 percent to 7,562 points.
