JEDDAH: ARAB NEWS
Published — Thursday 9 January 2014
Last update 9 January 2014 12:39 am
Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) dug in at 8,652.5 and ended its Wednesday’s trading up over 43 points or half percent.
While curving in the upward territory throughout the day it rose to a maximum gain of fifty points.
Eleven out of Tadawul's 15 sectors finished to the upside, accumulating an aggregate of 668 points.
Transport outperformed among the sectoral indices, advancing 1.74 percent to close the day at 6,712.44. Hotel & Tourism sector added considerable 255.6 points, up 1.58 percent.
Multi-Investment sector, on the other hand, posted the largest losses, falling 1.21 percent to 4,162.88.
Saudi Telecom Co. and the bellwether SABIC (Saudi Basic Industries Corp.) turned in a splendid performance among top ten heavyweight stocks, soaring up 2.67 percent and 2.43 percent respectively.
On the negative side, Kingdom Holding showing excessive losses of three and half percent became the major decliner at Tadawul.
Market breadth was positive, whereby 72 symbols closed in green and 58 closed in red, while 29 remained unchanged.
Rabigh Refining and Petrochemical Company again made the biggest jump among all Saudi equities, marching higher by 9.82 percent and closing at SR30.2. The company with a liquidity of SR718.3 million also topped the value chart, pumping 10.5 percent of Tadawul turnover.
Market activity remained a little high as compared to previous day; turnover went up by 13.8 percent on volume basis and 16.8 percent in terms of liquidity.
Roughly 248 million shares worth SR6.8 billion were poured into the market. The 50-day average for trading turnover is closer to 184.8 million shares worth SR5.1 billion.
Alinma Bank with trades roughly 28 million topped the volume chart, closing green at SR15.35.