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Business & Economy

Tadawul wavers in narrow range

Saudi stocks showed narrow fluctuations yesterday, as Tadawul index traded in the range of 23.2 points only.
Saudi Arabia’s benchmark stock index continuing its sideways movement for most of the session ended red at 7,205.75 points, dropping 8.31 points or 0.12 percent for the entire day.
On year-to-date basis, it showed a yield of 5.95 percent.
The market cap indices all finished to the downside.
Most of the sector indices ended negatively, paring an aggregate of 495 points.
The Hotel & Tourism sector posted the largest losses, shedding 368.7 points or over three percent to close the day at 11,575.44.
Only four sectors including Multi-Investment, the best performer (up 0.4 percent), moved higher from previous day’s level.
SABB outdid rest of its heavyweight peers, advancing 1.7 percent and closing at SR 35.6.
The market breadth was negative as the total number of falling stocks exceeded to the total number of rising stocks by a margin of 91 to 47 and the prices of 18 companies remained unchanged.
Astra Industrial Group turned in a splendid performance among all Saudi stocks, soaring up 6.82 percent for the day.
Malath Cooperative Insurance & Reinsurance was another significant advancer, surging by 5.56 percent.
Most of the trading was concentrated in Dar Al-Arkan Real Estate, which liquidated about 18.5 million shares, a relative market share of 10.4 percent.
National Agriculture Marketing Co. with a turnover of SR 395.5 million appeared to be the most liquid stock but it ended in red, down more than three percent.

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