JEDDAH: ARAB NEWS
Published — Wednesday 23 January 2013
Last update 23 January 2013 12:21 am
The Tadawul All-Share Index (TASI) dug in at 7,007.61 and ended its yesterday's trading up over 0.3 percent. The index started a sideways walk along the break even line earlier yesterday, abruptly changed its direction toward upside during mid of the session and finally closed in the green, adding 22.8 points for the day. It performed within a trading range of 48 points.
Micro cap with half percent positive change remained prominent among market cap indices.
Sectoral performance was positive, as 10 out of 15 sectors closed in upward territory, accumulating an aggregate of 376 points. Real Estate Development and Telecom were major gainers among sectoral indices, which marginally increased by 2.48 percent and 2.12 percent respectively.
On the other hand, five sectors went slightly down, trimming 93 points jointly. Insurance - the single gaining sector of previous day - became the biggest decliner of the day, down 28.07 points or 2.14 percent to 1,283.92. Amana Cooperative Insurance and Tawuniya Insurance suffered the greatest amount of damages, turning down 9.84 percent and 7.74 percent respectively.
The market breadth was weak, with 62 stocks witnessing advances and 72 others marking a decline.
Saudi Real Estate Co. and Saudi Industrial Export turned in a splendid performance amongst all Saudi equities, soaring up 9.86 percent and 9.84 percent respectively.
Most of heavyweights closed in green, with Etihad Etisalat Co. (Mobily) surging by 2.73 percent, Saudi Telecom Co. 0.98 percent and Al-Rajhi Bank 0.72 percent.
The share trading activity remained roughly 17 percent lower than previous day. Specifically, 171.6 million shares worth SR 4.9 billion changed hands on the Saudi stock market. Tadawul volume also went 10.5 percent down over the 50-day average level.