Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) turned red on Wednesday, reversing after a five-day surge and dropping 23 points for the session. The index dropped 0.21 percent to close at 11,126.01 points.

Most of the sector indices ended negatively, trimming an aggregate of 323 points. Only five sectors including Hotel & Tourism, the best performer (up 0.57 percent), moved higher from previous day’s level.

Energy and Real Estate Development sectors posted the largest losses, falling 0.76 percent and 0.66 percent respectively. Decliners outnumbered the advancers by a margin of 84 to 57 and the prices of 20 companies remained unchanged.

National Metal Manufacturing and Casting Co. (Maadaniyah) made the biggest jumps among all Saudi equities, hitting a new 5-year high and gaining 9.69 percent to SR53.20. An appreciation of 21.7 percent in the value of Maadaniyah has been recorded in seven days.

Alujain Corporation rose 7.9 percent to SR29.38. The company volume went 7.9 times high over its 50-day average, liquidating more than eight million shares. Share price of Bupa Arabia Insurance raced to an all-time high, surging 6.64 percent to SR142.71.

On the other hand, Allied Cooperative Insurance Group showed the worst performance, declining by 3.77 percent to close at SR28.61.

Most of the trading was concentrated in Saudi Kayan Petrochemical Company, which liquidated about 59 million shares, a relative market share of 15.4 percent. The value of these shares totaled SR1.1 billion, which equates 9.2 percent of market liquidity. But the company slipped 3.36 percent, closing at SR18.1.

Tadawul volume with trades over 382 million shares remained 19.4 percent greater than previous level. The 50-day average for trading volume is also closer to 253 million shares.

A considerable amount of liquidity SR11.8 billion flowed into the market, an increase of five percent from the previous value.