Saudi Aramco closes below $2 trillion as stock declines for second day

Shares in Saudi Aramco dropped for a second day in a row a week after its record initial public offering, pushing its market value just below $2 trillion, the level sought by Crown Prince Mohammed bin Salman.

Shares ended 2.8 per cent lower at 36.70 riyals in Riyadh, giving the company a total value of $1.96 trillion.

The stock was included in the MSCI Emerging Markets Index and the main local benchmark, the Tadawul All Share Index, on Wednesday. A number of investors took this as an opportunity to sell a few of the shares bought in the IPO, said Marwan Haddad,