Tadawul ends three-day rally

The Saudi stock market was in the red yesterday, reversing after a 3-day surge and dropping 0.20 percent for the day.
The Tadawul All-Share Index (TASI) bouncing between green-red within a range of 33.3 points ended nearly 15 points lower to finish at 7,223.02 points. It went 10.4 points above and 22.9 points below the break-even line during the day, said a report from GulfBase.
The market cap indices closed the day in mixed territories. Only five out of Tadawul’s 15 sectors witnessed a positive change, accumulating 338 points for the day. Remaining twofold sectors closed in the downward territory, paring an aggregate of 357 points.
Media and Publishing sector sustained its upward march, marking another handsome gain of 196.4 points or 5.22 percent to close the day at 3,959.71.
Agriculture and Insurance were other significant performing sectors, advancing more than one percent, the GulfBase report added.
On the negative side, Energy and Industrial Investment sectors performed worst, going down by 1.36 percent and 1.28 percent respectively.
Most of heavyweights slipped from previous day’s level, with Saudi Electricity Co. decreasing by 1.42 percent, Saudi Telecom 1.02 percent and the Kingdom Holding 0.83 percent.
Most active stocks, however, showed a positive change for the day. Saudi Industrial Development Co. remained prominent, surging 5.5 percent and closing at SR 19.25.
The market breadth was almost balanced with 69 issues witnessing advances against 68 issues recording declines.
Arabian Shield Cooperative Insurance stepped up to occupy the top position at Tadawul, soaring up 9.97 percent further to SR41.9. Tihama Advertising & Public Relations Co. also continued its positive movement for the eleventh consecutive day, showing a further increment of SR17 or 9.94 percent.
Surprisingly, Tadawul volume with trades over 263 million shares remained unchanged from previous level.