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Saudi stocks rise after Eid holiday

The Tadawul All-Share Index (TASI) advanced a little from earlier levels to 6,800.82 yesterday.
The TASI spending most of the session in the red territory and within a range of 36 points finally crossed the break-even line, adding 9.77 points or 0.14 percent.
Micro cap with 1.86 percent upward jump remained prominent among market cap indices.
Sectoral performance was positive, with ten sectors accumulating an aggregate of 550 points. Insurance came out as the key performing sector, rising by 3.4 percent to close at 1,491.03.
Hotel & Tourism and Transport sectors followed it, moving up by 2.82 percent and 2.58 percent respectively.
Six out of top ten market cap companies ended the day in green.
Etihad Etisalat Co. (Mobily) and Saudi Arabian Mining Company performed well relatively, achieving a growth of 1.03 percent and 0.62 percent respectively.
However, Al-Rajhi Bank and Riyad Bank slipped 0.7 percent to close at SR 69.75 and SR 22.9 respectively.
Market breadth was positive, whereby 94 symbols closed in green and 42 closed in red, while 19 remained unchanged.
Wataniya Insurance Company continued its upward march, surging 10 percent further to close at SR 137.5. An appreciation of nearly 40 percent in the value of Wataniya has been recorded in four consecutive trading days.
Dar Al-Arkan Real Estate continued to dominate the trading activity at Tadawul.
Roughly 25 million shares of the company were liquidated yesterday, which reflected a 16.8 percent relative market share.

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