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Business & Economy

Tadawul index declines slightly

The Saudi stock market recorded mild losses yesterday, as the Tadawul All-Share Index (TASI) descending throughout the day, closed lower to 7,033.3, trimming 24.29 points or 0.34 percent for the day. It plunged to a maximum of 45 points during the session. Its year-to-date yield reached to 3.41 percent.
The market cap indices all finished to the downside.
Most of the sector indices ended negatively, paring an aggregate of 319 points. Only four sectors moved upward, showing a collection of 86.9 points. Real Estate Development, Building and Media sectors showed the worst performance, declining more than 1.3 percent yesterday. On the positive side, Insurance sector remained key gainer for the second consecutive day, advancing 0.98 percent further.
Top ten heavy weights also suffered small losses, with Etihad Etisalat Co. (Mobily) decreasing by 0.67 percent, Samba Financial Group 0.66 percent and Al-Rajhi Bank 0.37 percent. However, Saudi Electricity Co. remained unharmed among large caps, advancing 0.36 percent to SR 13.7.
The market breadth was negative, with 42 stocks witnessing advances and 91 others marking a decline.
Solidarity Saudi Takaful Co. led the top gainers chart at Tadawul, surging by SR 3 or 8.33 percent. The company with trades over 17.5 million shares positioned itself among the most active stocks, closing the day at SR 39 and ranking second. The value of these shares totaled SR 667.8 million, a relative market share of 10.4 percent.
Al Ahlia Insurance Co. and Saudi Industrial Export were other significant gainers, moving up by 4.7 percent and 4.5 percent respectively.

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