Saudi Arabia's bourse slumped to a fresh 12-week low Monday and other markets also fell as uncertainty over Greece's future position in the euro zone hit sentiment and investors cut risk across the region. The Kingdom's stock benchmark Tadawul All Share Index fell 1.6 percent to 7,067.99 points, its lowest finish since Feb. 22. The 7,000 level is considered a strong psychological technical support level where buying may come in. “Selling pressure is back across the board as Saudi takes cues from global markets,” said Muhammad Faisal Potrik, research analyst at Riyad Capital. “Oil prices had run up quite a bit but in terms of petrochemical companies, margins will still be good. You won't see a major drop in those right now,” Potrik added. Most sectors ended lower as investors cut risk. Bellwether Saudi Basic Industries Corp. (Sabic) and Al Rajhi fell 1.8 and 1.3 percent respectively. Elsewhere, Dubai's index fell 0.4 percent to its lowest finish since Feb. 7 at 1,482 points. Abu Dhabi measure eased 0.02 percent to 2,473 points. In Qatar, the measure slipped 0.6 percent to close at 8,489 points, its lowest since Jan 29. Oman measure fell 1.4 percent to 5,654 points.Kuwait index fell 0.2 percent to 6,432 points. Bahrain benchmark declined 0.3 percent to 1,157 points. Egypt benchmark dipped 0.4 percent to 5,062 points.
