Media and Publishing sector surges 2.21%

The Saudi stock market continued its positive movement, marking another gain of 0.36 percent yesterday.
The Tadawul All-Share Index (TASI), which continued inching its way higher to end yesterday’s trading in the green at 7,162.89 points. It went 10 points below the level of opening bell earlier yesterday but subsequent trading sent the index up to accumulate more than twenty five points for the entire session.
Small cap remained prominent among market cap indices, increasing 0.86 percent for the day.
Sectoral performance was tremendous, as 12 out of the 15 sectors closed in the upward territory, accumulating an aggregate of 526.5 points.
Media and Publishing sector changed its position from worst performing sector of previous day to the top performer of the day, advancing by 2.21 percent and closing at 2,856.33. Real Estate Development also continued its upward march for the fifth consecutive session, rising more than one and half percent further.
Cement sector, on the other hand, recorded the biggest losses, going down by 92.4 points or 1.47 percent. Yanbu Cement Co. suffered worst of all equities, showing a reduction of SR 4 or 6.20 percent.
Top ten market cap companies ended the day in a mixed fashion. The losses made by the Saudi Arabia Fertilizers Co. (-1.1 percent) and Kingdom Holding (-0.53 percent) being offset by rise in Al-Rajhi Bank (+0.76 percent) and Saudi Telecom (+0.5 percent).
Most active stocks also showed a positive change, with Atheeb Telecom rising by 1.6 percent, Northern Region Cement 1.3 percent and Saudi Mobile Telecommunications 1.2 percent.
The advancers easily outnumbered declining stocks on the Tadawul (market); as for 55 percent stocks that gained, 34 percent ended lower and 11 percent remained unchanged.
Among all Saudi equities, Taiba Holding Co. made the biggest jump for the second straight day, marching higher by 6.64 percent to close the day at SR28.9. Saudi Research and Marketing Group was another significant gainer, moving up by 6.18 percent.