The Tadawul All-Share Index (TASI) jumped into the green territory earlier yesterday and after spending entire session in the same region it closed higher to 7,016.61 points, up 18.3 points or 0.26 percent from its previous close.
Among market cap indices only Micro cap went slightly downward.
Sectoral performance was positive, as 9 out of 15 sectors closed in the upward zone, accumulating 197 points for the day. While, five sectors finished to the downside, trimming 227 points collectively. Energy & Utilities sector, however, ended without any change.
One of the best performing sectors was Transport which rose to 0.8 percent, closing the day at 5,124.45. Telecommunication & Information Technology was another significant advancer which gained 0.7 percent for the day. On the negative side, Hotel & Tourism sector became the biggest decliner, down 198 points or over two percent to 9,355.52.
Most of heavyweights closed in green, with Etihad Etisalat Co. (Mobily) outdid rest of its peers, advancing 1.34 percent to SR 75.5. Only SABB closed the day a little lower, showing a negative change of 0.3 percent.
The advancers outnumbered declining stocks on the Tadawul; as for 45 percent stocks that gained, 32 percent ended lower and 23 percent remained unchanged.
Herfy Food Services and Basic Chemical Industries played well among all Saudi companies, marching higher by 5.4 percent and 4.8 percent respectively. On the other hand, six day surge of Alalamiya Cooperative Insurance ended yesterday as it dived to a maximum decline of 10 percent to close at SR 76.5.
Saudi Mobile Telecommunications Co. (ZAIN), Northern Region Cement, Atheeb Telecom and Alinma Bank remained most active stocks of the day, each contributing over eight percent to the overall market volume.
Reproduced with permission from Arab News