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Business & Economy

Tadawul index declines slightly

After four consecutive days of trading in the green, the Saudi stock market took a reversal yesterday, dropping a few points merely.
The Tadawul All-Share Index (TASI) fell down to 6,716.46 points yesterday. The index showed a reduction of 16 points or 0.24 percent for the entire day.
It opened at 6,732.46 points, which appeared to be the intra-day high, subsequent trading sent the index down to a maximum of 45.56 points.
Only Small and Micro caps indices moved upward slightly.
Sector indices performed in a mixed fashion, with seven sectors accumulating an aggregate of 57.2 points and eight sectors trimming more than two hundred points collectively.
Multi-Investment and Insurance were major winners among sectoral indices, which marginally increased by 0.61 percent and 0.58 percent respectively.
On the other hand, Industrial Investment and Petrochemical Industries moved downward, shedding less than half percent in a day.
Kingdom Holding and SABB came out as key gainers among heavyweight equities, marching higher by 2.04 percent and 0.65 percent respectively. Etihad Etisalat Co. (Mobily), on the contrary, posted the largest losses, falling 0.99 percent for the day.
Market breadth with advance-decline ratio of 0.8:1 remained slightly negative.
Etihad Atheeb Telecom-munication Company and Saudi Industrial Export continued an upward march in a consecutive manner, surging 8.95 percent and 6.69 percent respectively. Atheeb has also been able to occupy the place at volume chart, liquidating more than 16.6 million shares, and ranking second.
Share trading activity remained low yesterday as compared to previous day; turnover went down by 13.6 percent in terms of volume and 8.4 percent in terms of value.

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