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Business & Economy

Media sector gains over 4%

The Tadawul All-Share Index (TAS) wavering above the break-even line for most of yesterday’s session closed 15.45 points or 0.22 percent higher at 7,012.17. It moved within a narrow trading range of 18.4 points as compared to 30.8 points of previous day.
The market cap indices all finished to the upside, with Micro cap advancing 0.9 percent yesterday.
Eleven out of Tadawul’s 15 sectors moved upward, showing a collection of 250 points. Media and Publishing sector stepped up to occupy the top position at Tadawul, surging 121.3 points further or over four percent to close at 3,138.26.
Multi-Investment sector, on the other hand, posted the largest losses, falling 1.6 percent to 3,770.48.
Advancing stocks outnumbered decliners by a margin of 70 to 60 and the prices of 26 companies remained unchanged.
Tihama Advertising & Public Relations Co. turned in a splendid performance among all Saudi stocks, soaring up SR10.25 or 9.88 percent to close the day at SR 114. Saudi Advanced Industries and Al Ahsa Development Co. were other significant gainers, moving up by 4.7 percent and 4.6 percent respectively.
On the other side of the spectrum, the heavyweight Kingdom Holding suffered the greatest amount of damages, turning down 5.02 percent for the day.
Investors were able to expand the Tadawul volume to 216.8 million shares, increasing by 11 percent over the previous day. Most of the trading was concentrated in Northern Region Cement, which remained the most active stock for the fourth consecutive day. Its more than 83.8 million shares were traded yesterday which accounted for 38.6 percent of the Tadawul volume. The value of these shares reached to SR1.98 billion, which reflected 34.6 percent of overall market liquidity.


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