Tadawul dips but volume improves



JEDDAH: ARAB NEWS

Published — Sunday 7 April 2013

Last update 7 April 2013 4:16 am

| نسخة PDF Print News | A A

The Saudi stock market was in the red yesterday, reversing after a 3-day surge and dropping 0.9 percent for the day.
Saudi Arabia’s benchmark stock index after spending entire session in the downward territory ended lower to 7,113.74 points, down 64.36 points, from its previous trading day close at 7,178.1 points. The index went nearly 86 points down before the closing bell. Its year-to-date yield reached to 4.60 percent.
The market cap indices all finished to the downside.
Sectoral performance was negative, with 13 sectors paring an aggregate of 711 points.
Multi-Investment came out as the biggest decliner, shedding 2.84 percent or 102.4 points to close the day at 3,500.93. Real Estate Development sector followed it, declining 2.45 percent and closing at 3,802.92.
Only Media and Tourism sectors remained unharmed yesterday, advancing 2.87 percent and 0.97 percent respectively.
Most of heavy weights closed in red, with Kingdom Holding dipping by 3.96 percent, Etihad Etisalat Co. (Mobily) 1.53 percent and Saudi Electricity Co. 1.06 percent.
Most active stocks also showed a negative change, with Emaar the Economic City going down by 4.0 percent, National Medical Care 1.88 percent and Dar Alarkan Real Estate 1.21 percent.
However, Sanad Insurance continued its positive movement amongst active stocks, advancing 3.51 percent further.
The market breadth was in favor of bears as out of 156 stocks only 24 were able to close higher.
Tihama Advertising & Public Relations Co. continued its upward march for the sixth consecutive day, surging 9.84 percent to close at SR117.25. Tourism Enterprise Co. was another significant advancer, rising by 9.73 percent.
Allied Cooperative Insurance Group, on the contrary, continued its downward fall, reducing further by SR 4.5 or 9.98 percent to SR40.6.
Market activity was high, specifically SR 6.3 billion were poured into the market. Trading volume was impressive, with about 224 million shares changed hands in the market, a significant 13.7 percent growth over the previous level. The 50-day average for trading volume is closer to 204.8 million shares.

What's happening around Saudi Arabia

JEDDAH: Grand Mufti and Chairman of the Council of Senior Scholarships Sheikh Abdulaziz Abdullah Al-Asheikh called on astronomers questioning the accuracy of prayer timings in the Umm Al-Qura calendar to refrain from confusing people, and confirmed t...
JEDDAH: Turkey’s security agencies have arrested 15,000 members of the Daesh terrorist organization at its airports and border crossings, a diplomat said here recently.The Daesh members had attempted to enter Turkey territory, said Fikrat Ozar, consu...
JEDDAH: The Saudi government has welcomed the Gulf Cooperation Council’s proposals to fight terrorist groups that are attempting to undermine the region’s security and social fabric.This comes in the wake of an extraordinary meeting held by the GCC’s...
JEDDAH: The National Anti-Corruption Commission (Nazaha) is racing against the clock to unravel the circumstances surrounding the enrollment of 107,000 beneficiaries on the lists of social insurance without legal entitlements. These beneficiaries are...
MADINAH: Prince Faisal bin Salman, governor of Madinah and chairperson of the board of directors of the Takaful Welfare Society for Orphan Care in Madinah, has inaugurated a project to reconstruct houses of orphans.According to the Takaful program, 1...
RIYADH: The Kingdom on Tuesday announced that vaccination against meningitis is mandatory for all local and international Haj pilgrims, while flu shots are recommended for their own safety.Health Ministry Spokesman Khalid Al-Mirghalani told Arab News...
MAKKAH: A mentally-ill Turkish man killed a Sudanese patient in the Makkah Mental Health Hospital of King Abdul Aziz Hospital in Al-Zahir, a news website has reported, quoting Makkah police.The Turkish patient, in his 50s, confronted the Sudanese whe...
RIYADH: Mohammed Ali Al-Husseini, secretary-general of the Arab Muslim Council, based in Lebanon, said here recently that Saudi Arabia enjoys the trust of the international community as the first reference for the Muslim world.The Lebanese Shiite lea...
RIYADH: The King Abdullah City for Atomic and Renewable Energy (K.A.CARE) is working closely with the Ministry of Transportation, the Saudi Electricity Company (SEC), the Saudi Wildlife Authority (SWA) and the Director-General of Military Surveying t...
RIYADH: The Ministry of Education has received requests from 14 governmental agencies that their employees be sent abroad for studies in different specialities. The request is to include the employees as part of the third phase of Custodian of the Tw...
RIYADH: Argentina enjoys excellent ties with Saudi Arabia as it marks its 199th Independence Day anniversary on July 9, according to Ambassador Jaime Sergio Cerda.“Excellent bilateral ties bind the two countries as Argentina holds its 199th Independe...
JEDDAH/KUWAIT CITY: Three Saudi brothers have been arrested in connection with the suicide bombing of a mosque in Kuwait last month, the Saudi and Kuwaiti authorities said on Tuesday. Daesh owned up the attack during Friday prayers, which killed 27...
MAKKAH: Custodian of the Two Holy Mosques King Salman performed funeral prayers for Prince Abdullah bin Abdul Aziz bin Musaed, the deceased governor of the Northern Borders Province, at the Grand Mosque on Sunday night.Those present included Makkah G...
JEDDAH: More than 14 million worshippers and pilgrims visited Makkah in the first 16 days of Ramadan, a 40 percent increase compared to the same period last year.These figures were unveiled at a meeting of the Central Haj Committee, chaired by Makkah...
KUWAIT: Kuwait has detained 26 people suspected of involvement in a suicide bombing on a Shiite mosque last month that killed 27 people, a local daily reported on Monday, quoting the public prosecutor.The June 26 attack by Daesh jolted Kuwait, raisin...

Stay Connected

Facebook