Tadawul gains over one percent

Tadawul gains over one percent
Updated 30 April 2015

Tadawul gains over one percent

Tadawul gains over one percent

Despite a plunge of 45 points after the opening bell, the benchmark Tadawul All-Share Index (TASI) finished with a surprise jump of 1.02 percent or 99.33 points to 9,812.4 levels on Wednesday.
On an YTD basis, TASI registered a positive return of 17.75 percent.
Large cap (+1.27 percent) remained prominent among market cap indices, the GulfBase said in its market commentary.
All sectors extended gains except Insurance and Transport, which pared 41.7 points jointly. Remaining 13 sectors showed a collection of 1,035 points on aggregate basis.
Positive performance was boosted by Energy & Utilities sector, which surged 228 points or 3.23 percent to close at 7,293.47. The heavyweight Saudi Electricity company grew 3.5 percent, hitting a new five year high.
Petrochemical Industries was another significant gaining sector, up 2.37 percent for the day. Petrochemical flagship Saudi Basic Industries Corp. (SABIC) outdid rest of its heavyweight peers, rising 4.58 percent to close the day at SR106.84.
National Commercial Bank, the biggest lender of Kingdom, rose 3.75 percent to SR71.84. The bank touched SR72.75 on Wednesday, the highest level since its debut on the market.
Market breadth was strong for the day as 82 stocks witnessing advances and other 53 stocks marking a decline.
Share price of Knowledge Economic City (KEC) rallied to a growth of 8.42 percent, clinching the spot as top gainer amongst Saudi stocks.
KEC with trades over 23 million shares positioned itself among the most active stocks, ranking third. The company share price climbed to a fresh-all time high of SR32.7 before closing at SR32.29.
Alinma Bank appeared to be the most liquid stock of the day, pumping SR1.33 billion into the market.
A considerable amount of turnover 447.8 million shares worth SR12.3 billion changed hands on the Saudi stock market.
This turnover reflects an increase of 33 percent on volume basis and 37 percent in terms of liquidity over the 50-day average levels.