JEDDAH: The Tadawul All-Share Index (TASI) reflecting a large intra-day plunge at 6,667.8 points earlier yesterday dropped 114.52 points or 1.68 percent to close in the red territory at 6,682.47 points. All market cap indices ended the day in the downward district, with Micro Cap declined more than 3.7 percent.
All Saudi sector indices closed in red, dropping an aggregate of 1,320 points. Multi-Investment and Building & Construction sectors were major decliners, shedding over three percent for the day.
However, Energy & Utilities suffered least losses comparatively, down 0.44 percent to close at 4,721.92 points.
Most of heavy weights closed in red, with Samba Financial Group dipping by 2.26 percent, Saudi Telecom 1.87 percent and Al-Rajhi Bank 1.78 percent. Only Saudi Arabian Mining Co. and Saudi Arabia Fertilizers Co. (SAFCO) remained unharmed among large caps, advancing 0.63 percent and 0.53 percent respectively.
The market breadth confirmed a bearish momentum, as out of 155 stocks traded yesterday only 13 were able to close higher.
City Cement Co. shares began trading on Tadawul yesterday with the opening price of SR19. Its shares closed at SR 17.6. The company's IPO price was SR 10. On first day it recorded a gain of 76 percent. It also dominated the trading activity by liquidating more than 114 million shares, which equates 41.3 percent of overall market volume. The value of these shares totaled SR 2.04 billion, a relative market share of 33.4 percent.
After spending a couple of weeks in the red, Amana Cooperative Insurance turned green this time, moving up 9.89 percent to close the day at SR 205.5.
Micro Cap declines over 3.7 percent
