Insurance sector dominates trading



JEDDAH: ARAB NEWS

Published — Sunday 9 December 2012

Last update 8 December 2012 10:56 pm

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After spending entire last week with reasonable gains, the Saudi stock market continued its upward march yesterday.
The Tadawul All-Share Index (TASI) closed 48.9 points or 0.73 percent higher at 6,778.09.
TASI's year-to-date gains improved further to 5.62 percent. Small cap remained prominent among market cap indices, advancing 1.55 percent for the day.
All sectors closed in the upward territory, reflecting a collection of 546.7 points.
Positive performance was boosted by Insurance sector, which surged 44.81 points or 3.08 percent to cross the 1,500 mark. Saudi Indian Company for Co-operative Insurance, Amana Cooperative Insurance and Wataniya Insurance Company showed a tremendous performance among all Saudi equities, soaring up 9.9 percent for the day.
Most of the trading was also concentrated in the Insurance sector, its more than 42.5 million shares were traded yesterday which accounted for roughly one-fourth of the Tadawul volume. The value of these shares reached to SR 2.1 billion, a relative market share of 44.5 percent.
There were 99 net advancing issues, a largely positive market breadth for the day.
Etihad Etisalat Co. (Mobily) made the biggest jump among heavyweight equities, advancing 2.66 percent to close the day at SR 77.

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