The Saudi stock market again broke the psychological barrier of 7,000 points mark yesterday, buoyed by investors’ positive sentiments.
The Tadawul All-Share Index (TASI) continued its upward march, marking another gain of 0.4 percent yesterday. While reflecting a large intra-day spike at 7,062.04 points earlier it added 27.96 points to close the day in the green territory at 7,027.49 points.
Small cap with 0.68 percent upward jump remained prominent among market cap indices.
Thirteen out of Tadawul's fifteen sectors extended gains, reflecting an accumulation of 455 points.
Tourism and Real Estate Development were best performing sectors of the day, surging by 1.17 percent and 1.15 percent respectively.
Only Media and Banking sectors could not manage for gains, paring 97 points jointly.
Most of heavyweights closed in green, with Etihad Etisalat Co. (Mobily) rising by 1.29 percent, Saudi Arabia Fertilizers Co. 0.8 percent and Saudi Telecom Co. 0.74 percent.
The top five most active stocks also witnessed a positive change, with Dar Alarkan Real Estate and Emaar the Economic City advancing more than one percent yesterday.
The market breadht was largely positive as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 112 to 27 and the prices of 17 companies remained unchanged.
Alalamiya Cooperative Insurance and Salama Insurance have been showing a volatile performance for the previous few days, flip-flopping in the top and worst positions consecutively.
Again Salama with an increment of 7.8 percent remained at top and Alalamiya plunged to a maximum of 9.94 percent.
Share trading activity remained high as compared to previous trading day; turnover went up by 17 percent in terms of liquidity and 10 percent on volume basis.
Tadawul index surpasses 7,000-mark
