Saudi Arabia’s benchmark stock index turned green yesterday, recovering entirely from previous day’s small dip.
The index jumped (+23 points) into the green territory earlier yesterday and spending almost entire session in the same region edged up to 7,030.93 points, up 11.73 points or 0.17 percent from its previous close.
Among market cap indices only Med cap went slightly downward.
Most of the sector indices ended positively, with ten sectors accumulating an aggregate of 177 points.
Insurance sector continued to outperform for the second straight day, advancing more than one percent further. Retail sector followed it, increasing by 0.97 percent to 7,935.74.
On the other hand, five sectors could not mange for gains, dropping 145 points jointly.
Hotel & Tourism sector suffered worst of all sector, trimming 119 points or 1.24 percent.
Major heavyweights closed in green, with Etihad Etisalat Co. (Mobily) outdid rest of its peers, advancing 1.3 percent to SR 78.75.
Market breadth was positive, as rising stocks outnumbered decliners by a margin of two-to-one on the Tadawul market.
Share price of Saudi automotive services company rallied to a maximum growth of 9.97 percent, clinching the spot as top gainer amongst Saudi stocks.
Saudi Indian Company for Co-operative Insurance also continued its upward march for the fourth consecutive day, surging 9.73 percent further and ranking second.
Market activity remained a little high as compared to previous day; turnover went up by 14.4 percent in terms of liquidity and 7.8 percent on volume basis.
More than 156.6 million shares worth SR 4.7 billion changed hands on the Saudi stock market. The 50-day average for trading volume is closer to 210.8 million shares.
Insurance stocks stay in limelight
