Saudi stocks suffer 30-point fall



ARAB NEWS

Published — Wednesday 20 February 2013

Last update 19 February 2013 11:20 pm

| نسخة PDF Print News | A A

The Saudi stock market continued its downward fall yesterday, closing the third straight day with mild losses.
The Tadawul All-Share Index (TASI) ended lower to 7,025.74, shedding 0.44 percent or 30.79 points for the entire day. It went to a maximum of 56 points down from the level of opening bell yesterday.
The market cap indices all finished to the downside.
Only three out of Tadawul’s 15 sectors witnessed a positive change, accumulating nearly 63 points.
Transport came out as the best performing sector, advancing by 0.77 percent to 5,174.56.
On the worst side, 12 sectors closed in the downward territory, paring an aggregate of 359 points.
The Media and Publishing sector continued its negative movement for the seventh consecutive day, going down 51.3 points or 1.75 percent further.
The Real Estate sector followed it, declining 1.5 percent for the day.
Most of heavy weights closed in red, with Saudi Electricity Co. (SECO) declining by 1.44 percent, Saudi Arabia Fertilizers Co. (SAFCO) and bellwether SABIC (Saudi Basic Industries Corp.) both by 0.81 percent.
However, Riyad Bank remained unharmed among large caps, moving up slightly 0.2 percent to SR 23.35.
The market breadth confirmed a bearish momentum, as out of 156 stocks traded yesterday only 38 were able to close higher.
New player Northern Region Cement made the biggest jump among all Saudi equities, surging by 9.87 percent to close the day at SR 22.8. Most of the trading was also concentrated in this company, which liquidated more than 28.4 million shares, a relative market share of 12.4 percent.
The value of these shares reached to SR607.1 million, which reflected roughly 10 percent of overall market liquidity.

What's happening around Saudi Arabia

RIYADH: A Border Guard soldier died on Saturday in a missile attack from across the Yemeni border in Dhahran Al-Jonoub in Asir.The man, identified as Pvt. Abdulilah Abdullah Hamoud Al-Shahrani, was patrolling the border in the area when the attack to...
RIYADH: Custodian of Two Holy Mosques King Salman takes pride in his religion and his country, according to Prince Sultan bin Salman, Saudi Commission for Tourism and National Heritage (SCTH) chairman.“King Salman lives his life in a confident and re...
RIYADH: Justice Minister Walid Al-Samaani and Khaled Al-Muhaisin, the president of the National Anti-Corruption Commission (Nazaha), are scheduled to meet soon to clear resolve differences between Nazaha and Supreme Judicial Council (SJC). According...
JEDDAH: Starbucks has clarified that the ban on women’s entry at one of its Riyadh stores is only temporary and that the coffee shop will be opened to them soon after a separation wall is erected.Starbucks reportedly said that members of the Committe...
RIYADH: The Saudi government is strongly supporting the development of organic farming and institutional capacity building as part of an ambitious plan to expand the Kingdom’s shift toward organic agriculture, which will be good for the country’s nut...
RIYADH: An attempt to smuggle in 2.4 million amphetamine pills was foiled along the coast of Tabuk.An Interior Ministry spokesman said the traffickers fled from the coast after they were chased by Border Guard patrols.The spokesman said a suspect boa...
RIYADH: King Saud University (KSU) closed the booths of five companies which participated in the recently concluded five-day Career Week because of lack of interest in employing applicants.Career Week, held under the auspices of Custodian of Two Holy...
RIYADH: The Kingdom has been developing Oroug Bani Maradh as a protected area for eco-tourism in the heart of the Empty Quarter.Aside from a number of live flora and fauna, there’s are non-domesticated animal species in the wildlife sanctuary located...
JEDDAH: Two women and three children, including an infant, lost their lives in separate fire incidents on Friday.A woman and two children died when their tent caught fire at Al-Issawi, 35 km into the desert, on Friday. The operations room of Civil De...
RIYADH: Arrangements are being made at the Ministry of Health to open a new portal for the Zika virus on its website.Faisal Al-Zahrani, the ministry spokesman, said that the new portal will give adequate details and updates about the virus which has...
ARAR: A Saudi father has urged his two sons to immediately surrender, after their names recently appeared on the list of suspects who participated in the terror attack on the Special Emergency Forces Mosque in Asir in August last year.Salem Yaslam Al...
JEDDAH: The Ministry of Education has called on schools to implement a national anti-drug plan and given a four-month period to implement the plan and report the results.Educational directorates, according to a recent circular, have issued a directiv...
NAJRAN: School of Dentistry students at Najran University expressed disappointment with group failure of 13 students, accusing the faculty members of being unfair with their examinations.The university spokesman, Dr. Zuhair Al-Omari, said the eighth...
JEDDAH: Pakistan and Kashmir expatriates observed Kashmir Solidarity Day at the residence of Pakistan Consul General Shehryar Akbar Khan on Friday.Abdul Aziz Al-Jiffry, professor at King Abdul Aziz University, was the chief guest.The event was meant...
RIYADH: The Sri Lankan government has urged its overseas workers to register with the Sri Lanka Bureau of Foreign Employment (SLBFE) before they leave abroad for employment.Foreign Employment Minister Thalatha Athukorale told the overseas workers tha...

Stay Connected

Facebook