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Business & Economy

Tadawul shows balmy gains

The Saudi stock market sustained its upward march, closing the third consecutive day with balmy gains.
The Tadawul All-Share Index (TASI) ended higher at 7,057.59 points.
It added further 14.04 points or 0.20 percent and spiked above the previous closing at 7,043.55 levels.
Its trading range expanded to 37.1 points as compared to previous day’s 24.5 points.
The market cap indices all finished to the upside, with micro cap advancing 0.6 percent yesterday.
Sector indices performed in a mixed fashion, with eight sectors reflecting an accumulation of 319 points and six sectors shedding 121 points collectively.
However, the energy sector ended without any change yesterday.
Insurance showed the best performance among sectoral indices, rising 2.37 percent for the day. Hotel and tourism sector continued its upward march, marking another gain of 125.8 points or 1.44 percent.
It also reflected a year-to-date change (+22.2 percent) which is highest amongst all Saudi sectors.
Industrial Investment sector, on the other hand, posted the largest losses, falling more than one percent to 6,468.01.
Riyad Bank and Samba Financial Group came out as key gainers among heavyweight equities, moving up slightly 0.65 percent and 0.44 percent respectively.
Market breadth with advance-decline ratio of 2.2:1 remained strong.
Share price of Saudi United Cooperative Insurance rallied to a maximum growth of 10 percent, clinching the spot as top gainer amongst Saudi stocks. Saudi Integrated Telecom (Almutakamela) — the most active stock — followed it, jumping 9.66 percent to SR 26.10.

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