DUBAI: The Saudi index closed lower on Sunday, with the financial sector leading the losses, while the Qatari index hit a three-month high having risen consistently through the month.

Saudi Arabia’s benchmark stock index, which recorded its first monthly gain after three months of consecutive losses, dropped 0.4%.

The losses in the index were driven by Saudi Arabia’s two biggest lenders, with Al Rajhi Banking And Investment Corporation declining 1.8% and Saudi National Bank dipping 1.2%.

However, Saudi Arabia’s state oil company Aramco gained 0.7% after the company signed contracts for the second phase of the expansion of its Jafurah gas field and the third phase of expanding its main gas network.

Al Taiseer Group Talco Industrial, which listed on June 13 on the main Saudi market, and Modern Mills Company, were the biggest gainer on the index, with 9.9% gains each.

The Saudi index advanced 1.8% in June, but declined 5.6% in second quarter as a whole, according to LSEG data.

The Qatari benchmark index edged up 0.1%, despite a majority of stocks being in the red, helped by gains in industrial and financial sector stocks.