Media sector stocksjump 3.4 percent

The Saudi stock market marked its second consecutive gain yesterday. The Tadawul All-Share Index (TASI) closed higher at 7,172.57 points. It added further 14.71 points or 0.21 percent and spiked above the previous closing at 7,157.85 levels.
It went 15.7 points above and 17.5 points below the break-even line during the day.
Among market cap indices only Large cap went slightly downward.
Sectoral performance was positive, with nine sectors reflecting an accumulation of 450 points and six sectors shedding 49 points collectively.
Media and Publishing made the biggest jump among sectoral indices, posting a solid growth of 3.4 percent to 2,926.39. Tihama Advertising & Public Relations Co. came out as key gainer in this sector, reflecting an increment of SR8.75 or 9.88 percent.
Real Estate and Multi-Investment sectors followed the performance of Media, advancing 1.88 percent and 1.31 percent respectively.
Most of heavyweights ended without any change. Kingdom Holding outdid rest of its heavyweight peers, rising 3.25 percent to close the day at SR 19.05. On the contrary, Saudi Arabia Fertilizers Co. (SAFCO) suffered worst of all heavyweights, showing a reduction of 3.78 percent.
Advancing stocks outnumbered decliners by a margin of 74 to 54 and the prices of 29 companies remained unchanged.
Share price of Allianz Saudi Fransi Cooperative Insurance rallied to a maximum growth of 10 percent, clinching the spot as top gainer amongst Saudi stocks.
Tadawul volume with trades over 165.8 million shares remained 18.8 percent greater than previous level but still it was 19 percent lower than 50-day average.
Most active stocks also showed a positive change, with Sanad Insurance surging by 9.8 percent, Emaar the Economic City 3.2 percent and Saudi Kayan Petrochemical Co. 2.1 percent.