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Business & Economy

Media sector stays in limelight

The Saudi stock market has been remained under pressure for the previous few sessions in a row as Investors attempted to build new positions by selling and accumulating the equities.
The Tadawul All-Share Index (TASI) continuing its sideways movement inched up to 7,043.65 points yesterday, adding couple of points merely.
It went 16.6 points above and 9.8 points below the break-even line during the day.
Among market cap indices only Med cap was able to close a little higher.
Five out of Tadawul's 15 sectors witnessed a positive change. Remaining twofold sectors closed in the downward territory, paring an aggregate of 124 points for the entire day.
Media and Publishing outdid rest of the sectors for the second consecutive day, surging 3.8 percent further and finishing near 3,000-mark. Agriculture & Food Industries followed it, advancing more than one percent.
On the other hand, Insurance sector continued its negative movement, declining roughly one percent to 1,232.23.
Most of heavy weights closed a bit lower with Kingdom Holding falling 1.2 percent and SABB 0.9 percent for the day. Al-Rajhi Bank, however, continued its positive movement, posting another 0.4 percent growth.
The market breadth with advance-decline ratio of 0.53:1 remained unfavorable.
Saudi Printing & Packaging Co. turned in a splendid performance among all Saudi stocks, soaring up 9.8 percent to close the day at SR 40.4.
Weqaya Takaful insurance also sustained an upward momentum for the fifth consecutive session, rising over four percent and ranking second.
Share trading activity remained high as compared to previous day; turnover went up by 33.5 percent on volume basis and 32.3 percent in terms of value.
More than 252.5 million shares worth SR 6.2 billion changed hands on the Saudi stock market.

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