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Business & Economy

Tadawul index drops slightly

Despite a wide fluctuation, the Tadawul All-Share Index (TASI) changed a little from earlier levels yesterday, declining merely 4.42 points or 0.07 percent to close at 6,662.04.
The index traded in a high range (84 points), moving 35 points up and 49 points below the level of opening bell yesterday.
Most of the major sectors closed in the green territory, accumulating an aggregate of over 161 points. Insurance outdid rest of the Saudi sectors, advancing more than one percent to close the day at 1,440.87.
On the negative side, five sectors ended in red, trimming roughly 200 points for the day. Retail and Multi-Investment sectors posted the largest losses, falling 0.88 percent and 0.79 percent respectively.
Market breadth was positive this time as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 72 to 66 and the prices of 17 companies remained unchanged.
SABB outperformed among large market cap companies, reflecting an increment of SR 0.4 or 1.33 percent.
While, the heavyweight Kingdom Holding suffered the greatest amount of damages, turning down 2.02 percent for the day.
Amana Cooperative Insurance stepped up to occupy the top position at Tadawul, surging 9.93 percent further.
Arabian Shield Cooperative Insurance Company, on the other hand, switched its position from the top gainer of previous couple of days to the biggest loser of the day, down SR 7.25 or 9.77 percent.

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