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Business & Economy

Banking sector shows positive change

The Tadawul All-Share Index (TASI) reflecting the double bottom at 6,852 points level yesterday crossed the breakeven line to close in the green at 6,888.59 points, adding 30.35 points or 0.44 percent for the entire day.
It wavered within a trading range of 36.7 points yesterday.
Only small caps among the market cap indices moved downward slightly.
Most of the major sectors closed in the green territory, accumulating an aggregate of nearly 397 points.
Transport came out as key performing sector among sectoral indices, reflecting an increment of 60.57 points or 1.28 percent.
Banks and Financial Services sector followed it, advancing by 178 points or 1.2 percent for the day.
Samba Financial Group, SABB and Al-Rajhi Bank showed a tremendous performance among big players, marching higher by 1.97 percent, 1.94 percent and 0.76 percent respectively.
On the negative side, five sectors fell down from previous day’s level, trimming 30.4 points collectively. The insurance sector posted the largest losses, falling 0.9 percent further to 1,415.91.
Advancing stocks outnumbered decliners by a margin of 77 to 57 and the prices of 22 companies remained unchanged.
Insurance companies led the top gainer and loser charts, with Saudi Indian Co. for Cooperative Insurance and Amana Cooperative Insurance, offsetting their performance by a maximum of 9.9 percent positive-negative change.
Only Kingdom Holding turned red among top 10 heavyweight equities, going down slightly by 0.28 percent to close at SR17.95.

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