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Business & Economy

Four-day surge ends at Tadawul

The Saudi stock market recorded mild losses yesterday, as the Tadawul All-Share Index (TASI) descending throughout the day, closed lower to 7,115.19, trimming 50.57 points or 0.71 percent for the day. The index went nearly 64 points lower before the closing bell. Its year-to-date yield reached to 4.62 percent.
All market cap indices closed the day in the negative zone.
Most of the sector indices ended negatively, with twelve sectors paring an aggregate of 544 points for the day. In turn, Transport, Multi-Investment and Telecom sectors have been unharmed by the day's trading, showing a collection of 40.5 points jointly.
Hotel & Tourism sector came out as the biggest loser of the day, down by 1.34 percent or 106.1 points to close at 7,814.28. Banking sector followed it, declining by 1.13 percent for the day.
The market breadth was negative with 114 stocks witnessing declines against 32 stocks witnessing advances and 10 stocks remained unchanged.
Dallah Healthcare Holding Company continued its upward march for the fourth straight day, surging 9.94 percent further. Dallah has also been able to top the value chart, contributing SR 1.1 billion, which is approximately 17 percent of the overall market value. The company with trades over 13 million shares positioned itself among the most active stocks, closing the day at SR 91.25 and ranking third.
Bank Albilad, on the contrary, suffered worst of all equities, showing a reduction of SR 1.60 or 4.89 percent to SR 31.10.
Seven out of top 10 heavy weights closed in red, with Al-Rajhi Bank dipping by 1.4 percent, Saudi Telecom 1.09 percent and Maaden 0.86 percent.
On the positive side, Kingdom Holding and Mobily outdid rest of the heavyweight peers, advancing 2 percent and 0.68 percent respectively.

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