Tourism sector advances 2.54%

The Saudi stock market marked its fourth consecutive gain yesterday. The Tadawul All-Share Index (TASI) closed higher at 7,057.19 points. It added further 26.42 points or 0.38 percent and spiked above the previous closing at 7,030.78 levels. Its trading range expanded 9 points more than previous day's 27.6 points.
On year-to-date basis, the index showed a collection of nearly 256 points or 3.76 percent.
Ten sector indices ended the day with modest gains, accumulating nearly 557 points jointly. Hotel & Tourism sector outdid rest of the sectors, advancing 2.54 percent to 9,282.05. Cement sector followed it, showing more than one percent positive change. Yanbu Cement Co., Eastern Cement and Qassim Cement included among the top gainers, surging 4.01 percent, 3.38 percent and 3.16 percent respectively.
On the negative side, five sectors including Media and Publishing (-1.29 percent) - the biggest decliner of the day - went downward, trimming an aggregate of 122 points.
Most of heavyweights closed in green, with SABB surging by 2.77 percent, Kingdom Holding 1.69 percent and bellwether SABIC (Saudi Basic Industries Corp.) 0.53 percent.
The market breadth was slightly negative, with 66 stocks witnessing advances and 70 others marking a decline.
Tourism Enterprise Co., Bank AlJazira and Arabian Pipes Company remained at top positions among all Saudi equities, marching higher by 6.03 percent, 4.60 percent and 4.56 percent respectively.
While, decliner's chart was filled by Insurance companies, with Saudi Indian Company for Co-operative Insurance, Wataniya Insurance and Amana Cooperative Insurance, shedding more than five percent yesterday.
Northern Region Cement continued its leading position and remained the most active stock of the day. Its volume set sold about 38.5 million shares, which equates 17.5 percent of the overall market volume. But its advantage (+200 percent) over IPO price minimized, as the company has showed a reduction of nearly 28 percent in five consecutive days.