Media sector stays in limelight

The Saudi stock market marked its third consecutive gain yesterday. The Tadawul All-Share Index (TASI) closed higher at 7,237.82 points. It added further 47.51 points or 0.66 percent and spiked above the previous closing at 7,190.31 levels.
The trading range expanded to 54.6 points as compared to 37.4 points of previous day.
On year-to-date basis, the TASI’s yield reached 6.42 percent. Large cap remained prominent among market cap indices, rising more than one percent for the day.
Sectoral performance was tremendous, as 13 out of Tadawul's 15 sectors closed in the upward territory, reflecting an accumulation of 682 points.
Media and Publishing sector continued to play well for the ninth straight day, surging 4.22 percent to close the day at 3,763.28. An appreciation of nearly 34 percent in the value of this sector’s index has been recorded in nine consecutive trading days.
Eight out of top 10 heavy weight stocks ended in the green. SABB, Samba Financial Group and Etisalat Co. (Mobily) performed well relatively, achieving a daily growth of 4.1 percent, 2.01 percent and 1.85 percent respectively.
Most active stocks closed the day in mixed territories.
Market breadth was also positive, whereby 78 symbols closed in green and 58 closed in red, while 20 remained unchanged.
Tihama Advertising & Public Relations Co. continued its upward march for the tenth consecutive day, dominating the performance chart with 9.97 percent positive change to close at SR 171.
Filling & Packing Material Mfg. Co. and Wafa Insurance were other significant gainers, moving up by 9.85 percent and 9.64 percent respectively.
Share trading activity remained high yesterday, as Tadawul volume went up further to 263.4 million shares, an increase of 28.4 percent over the 50-day average level.
A considerable amount of liquidity SR 8.4 billion flowed into the market, an increase of 43.3 percent over the 50-day average value.