Market cap rises to SR 1.45 trillion



JEDDAH: ARAB NEWS

Published — Saturday 16 February 2013

Last update 16 February 2013 12:05 am

| نسخة PDF Print News | A A

Saudi Arabia’s benchmark stock index turned green last week, recovering entirely from previous week’s losses and again crossing 7,000-points mark.
The TASI continued stepping its way higher throughout the week to close in the green at 7,062.98 points, up 80 points or 1.15 percent, from its previous weekend close at 6,982.89 points. It performed within a trading range of 88.6 points last week. On year-to-date basis, the index showed a collection of 262 points or 3.85 percent.
Total market capitalization of Saudi stock exchange increased to SR 1.45 trillion as compared to previous week’s value, an increase of 1.2 percent. Med cap outperformed among the market cap indices, posting a weekly growth of 1.7 percent.
All sectors extended weekly gains except Insurance, which pared 23.4 points or 1.86 percent to close at 1,232.38 levels. Wataniya Insurance, Gulf Union Insurance and Amana Cooperative Insurance were major decliners, going down by 16.4 percent, 7.3 percent and 7.2 percent respectively.
Remaining 14 sectors accumulated more than 1,183 points last week. Hotel & Tourism sector continued its upward march for the third consecutive week, surging over three percent to 9,259.1. Media and Real Estate sectors were other significant gainers, advancing 2.7 percent and 2.4 percent respectively.
Most of heavyweights marched higher from previous week’s level, with SABB rising by 6.33 percent, Kingdom Holding 3.41 percent and Saudi Arabia Fertilizers Co. (SAFCO) 3.14 percent.
Weekly market breadth remained favorable as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 91 to 55 and the prices of 10 companies remained unchanged.
Allied Cooperative Insurance Group stepped up to occupy the top position at Tadawul, surging SR 9.0 or 15.6 percent further to SR 66.75. Tourism Enterprises Co. also continued to show a tremendous performance for the fifth straight week, marching higher by 13.6 percent further.
Investors continued to flow an optimal level of turnover; specifically, 1.1 billion shares worth SR 28 billion changed hands on the Saudi stock market last week. Furthermore, upside-downside volume ratio of 1.03:1 remained positive.
New player Northern Region Cement with trades over 268.8 million shares worth SR 6.3 billion remained as the most active stock of the week. But the company posted the largest weekly losses, falling 21.5 percent and closing at SR 21.2.
All benchmark indices at GCC stock markets ended the week in green.
The benchmark GulfBase GCC General Index closed the week higher at 4,096.25 points level, adding 31.6 points or 0.78 percent for the entire week.

What's happening around Saudi Arabia

MADINAH/JEDDAH: Pilgrims and visitors performing tawaf (circumambulation) of the Holy Kaaba or praying around it may look forward to relief from the blazing sun, as a proposal to shade the Mataf area is being studied.According to local media, the mat...
JEDDAH: Users of WhatsApp were a joyous lot on Saturday as the call facility finally became available on the popular messaging service in the Kingdom.The facility, which is for free now, through WhatsApp was earlier banned in Saudi Arabia and only me...
RIYADH: A Border Guard soldier died on Saturday in a missile attack from across the Yemeni border in Dhahran Al-Jonoub in Asir.The man, identified as Pvt. Abdulilah Abdullah Hamoud Al-Shahrani, was patrolling the border in the area when the attack to...
RIYADH: Custodian of Two Holy Mosques King Salman takes pride in his religion and his country, according to Prince Sultan bin Salman, Saudi Commission for Tourism and National Heritage (SCTH) chairman.“King Salman lives his life in a confident and re...
RIYADH: Justice Minister Walid Al-Samaani and Khaled Al-Muhaisin, the president of the National Anti-Corruption Commission (Nazaha), are scheduled to meet soon to clear resolve differences between Nazaha and Supreme Judicial Council (SJC). According...
JEDDAH: Starbucks has clarified that the ban on women’s entry at one of its Riyadh stores is only temporary and that the coffee shop will be opened to them soon after a separation wall is erected.Starbucks reportedly said that members of the Committe...
RIYADH: The Saudi government is strongly supporting the development of organic farming and institutional capacity building as part of an ambitious plan to expand the Kingdom’s shift toward organic agriculture, which will be good for the country’s nut...
RIYADH: An attempt to smuggle in 2.4 million amphetamine pills was foiled along the coast of Tabuk.An Interior Ministry spokesman said the traffickers fled from the coast after they were chased by Border Guard patrols.The spokesman said a suspect boa...
RIYADH: King Saud University (KSU) closed the booths of five companies which participated in the recently concluded five-day Career Week because of lack of interest in employing applicants.Career Week, held under the auspices of Custodian of Two Holy...
RIYADH: The Kingdom has been developing Oroug Bani Maradh as a protected area for eco-tourism in the heart of the Empty Quarter.Aside from a number of live flora and fauna, there’s are non-domesticated animal species in the wildlife sanctuary located...
JEDDAH: Two women and three children, including an infant, lost their lives in separate fire incidents on Friday.A woman and two children died when their tent caught fire at Al-Issawi, 35 km into the desert, on Friday. The operations room of Civil De...
RIYADH: Arrangements are being made at the Ministry of Health to open a new portal for the Zika virus on its website.Faisal Al-Zahrani, the ministry spokesman, said that the new portal will give adequate details and updates about the virus which has...
ARAR: A Saudi father has urged his two sons to immediately surrender, after their names recently appeared on the list of suspects who participated in the terror attack on the Special Emergency Forces Mosque in Asir in August last year.Salem Yaslam Al...
JEDDAH: The Ministry of Education has called on schools to implement a national anti-drug plan and given a four-month period to implement the plan and report the results.Educational directorates, according to a recent circular, have issued a directiv...
NAJRAN: School of Dentistry students at Najran University expressed disappointment with group failure of 13 students, accusing the faculty members of being unfair with their examinations.The university spokesman, Dr. Zuhair Al-Omari, said the eighth...

Stay Connected

Facebook