Tadawul index stays almost flat



JEDDAH: ARAB NEWS

Published — Monday 28 January 2013

Last update 27 January 2013 11:22 pm

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The contest between bulls and bears ended without any significant change at Saudi stock market yesterday, as Tadawul All-Share Index (TASI) closed just below the break-even line, trimming a couple of points or 0.02 percent to 7,023.74. The index traded within a narrow range of 25 points yesterday.
Saudi sector indices performed in a mixed fashion, with seven sectors accumulating an aggregate of 390 points and eight sectors paring 115 points jointly. Media and Publishing sector has been showing a volatile performance for the previous few days, flip-flopping in the top and worst positions consecutively. This time the sector rose roughly three percent to 3,120.79. Hotel & Tourism followed it, advancing 212 points or 2.7 percent for the day.
The market breadth with advance-decline ratio of 0.78:1 remained unfavorable.
Insurance stocks topped the gainer and loser charts at Tadawul. Al Alamiya for Cooperative Insurance outperformed among all Saudi equities, reflecting an increment of SR 5.50 or 9.95 percent to SR 60.75. Saudi Integrated Telecom and Tihama Advertising were other significant advancers which gained 9.7 percent for the day. Amana Cooperative Insurance, on the other hand, posted the largest losses for the fourth straight day, falling 9.70 percent further.
Major heavy weights closed slightly lower from previous day’s level, where Etihad Etisalat Co. (Mobily) dipping by one percent, Saudi Electricity Co. 0.37 percent and Al-Rajhi Bank 0.36 percent.
Tadawul equity turnover exceeded to SR 6 billion, a daily growth of 4.4 percent. Dallah Healthcare Holding Company with a turnover of SR 579.4 million topped the value chart on the Saudi stock market. The company also finished to the upside, gaining more than 3.2 percent, and ranking sixth.

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