Tadawul stays almost unchanged

Updated 14 November 2012
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Tadawul stays almost unchanged

JEDDAH: The contest between bulls and bears ended without any significant change at Saudi stock market yesterday as Tadawul index retreated to 6,828.19 points, which was roughly where it started the session.
The Tadawul All-Share Index (TASI) wavering in the North-South within a range of 29 points, closed just below the break-even line losing a nominal 1.34 points or 0.02 percent.
All sectors performed in a mixed fashion, with seven sectors accumulating an aggregate of 147 points and eight sectors trimming 243 points collectively. One of the best performing sectors was Retail which rose to 51 points or 0.68 percent for the day.
The media and publishing sector changed its position from top performer of previous day to the worst performing sector of the day, down 3.86 percent. The sector shedding its entire gains of previous day closed at 2,778.62.
Five out of top 10 heavy weight stocks closed in the upward territory. Saudi Arabia Fertilizers Co. (SAFCO) and Kingdom Holding performed well relatively, achieving a daily growth of 1.4 percent and 1.23 percent respectively.
The market breadth was slightly negative, with 63 stocks witnessing advances and 70 others marking a decline.
Insurance companies led the top gainer and loser charts at Tadawul. Sanad Insu-rance and ACE Arabia Insu-rance made the biggest jumps among all Saudi companies, rising by 8.84 percent and 8.43 percent respectively. Sanad with trades over 6.3 million shares also positioned itself among the most active stocks, closing the day at SR 32 and ranking second.
On the contrary, Amana Cooperative Insurance suffered worst of all equities for the third straight day, showing a further reduction of SR 17.5 or 9.97 percent to close at SR 158.


Iran falls to sixth biggest oil supplier to India as sanctions bite

Updated 14 December 2018
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Iran falls to sixth biggest oil supplier to India as sanctions bite

  • Tehran dropped two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of US sanctions
  • The UAE, which was the sixth biggest oil seller to India in October, became the third-top seller to India in November

NEW DELHI: India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of US sanctions, according to ship tracking data and industry sources.
Last month, the US introduced tough sanctions aimed at crippling Iran’s oil revenue-dependent economy. Washington did, though, give a six-month waiver from sanctions to eight nations, including India, and allowed them to import some Iranian oil.
India is restricted to buying 1.25 million tons per month, or about 300,000 barrels per day (bpd).
In November, India imported about 276,000 bpd of Iranian oil, a decline of about 41 percent from October and about 4 percent more than the year-ago month, ship tracking data obtained from shipping and trade sources showed.
After abandoning the 2015 Iran nuclear deal, US President Donald Trump is trying to force Tehran to quash not only its nuclear ambitions and its ballistic missile program but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.
India’s imports from Iran in November, included some parcels that were loaded in October. In November, Iraq and Saudi Arabia continued to be the top-two oil sellers to India.
The UAE, which was the sixth biggest oil seller to India in October, became the third-top seller to India in November, knocking down Venezuela to fourth position.