The Saudi stock market bucked the 5-week downward trend and rose last week on the back of strong performance by the Insurance and Multi-Investment sectors.
The Tadawul All-Share index (TASI) ended the week at 6,744.53 points, up 83.27 points or 1.25 percent, from its previous weekend close at 6,661.26 points. On an YTD basis TASI registered a positive return of 5.09 percent.
All market cap indices ended the week in the upward zone, with Micro cap advanced over 3.24 percent.
Sector indices at Saudi stock market ended the week with modest gains. Only three sectors ended in red, paring over 100 points collectively. Insurance and Multi-Investment were best performing sectors of the week, surging by 6.39 percent and 6.10 percent respectively. Total market capitalization of Saudi stock exchange reached at SR1.34 trillion as compared to previous week's SR1.31 trillion, an increase of 1.9 percent. Furthermore, upside-downside volume ratio of 6.5:1 remained extremely strong.
Dar Al-Arkan Real Estate came out as most active stock for the week. Its volume set sold about 185.9 million shares, which are about 12 percent of Tadawul's total volume.
There were 80 net advancing issues, a largely strong weekly market breadth.
Insurance companies were the significant winners of the week, with Enaya Insurance and Saudi Arabian Insurance, rising by 28.13 percent and 17.71 percent respectively. Most of the major benchmark indices at GCC stock markets ended the week in red. Kuwait Stock Exchange was the top decliner, down 3.14 percent.
TASI and ADX became green after a decline of several weeks. However, DFM closed without any change.
Equity cap surges to SR 1.34 trillion
