Tourism sector index crosses 12,000-mark

The Saudi stock market continued its upward march and rose for a sixth session yesterday.
The Tadawul All-Share Index (TASI) closed higher at 7,149.97 points.
It added further 22.29 points or 0.31 percent and spiked above the previous closing at 7,127.68 levels. While curving in the upward territory throughout the day it rose to a maximum gain of 35.7 points.
On year-to-date basis, the TASI crossed a positive return of five percent.
All market cap indices witnessed a positive change for the day.
Eleven out of Tadawul's 15 sectors finished to the upside, accumulating an aggregate of nearly 692 points.
Hotel & Tourism outperformed among the sectoral indices, surging over 373 points or 3.17 percent to cross the 12,000-mark. Cement sector also continued its positive movement, advancing 1.57 percent further and closing at 6,605.51.
On the negative side, four sectors including Retail (-0.4 percent) — the biggest decliner of the day — went downward, trimming an aggregate of 72 points.
Most of heavyweights extended gains, with Kingdom holding outdid rest of its peers, advancing 1.8 percent to SR 17.
The market breadth was strong for the day as 82 stocks witnessing advances and other 46 stocks marking a decline.
Saudi Enaya Cooperative Insurance and Allianz Saudi Fransi Cooperative Insurance topped the performance chart at Tadawul, soaring up 9.95 percent and 7.34 percent respectively.
Trading volume was improving, with about 228.4 million shares changed hands in the market, a growth of 4.2 percent over the previous level.
The 50-day average for trading volume is closer to 203.9 million shares.
Saudi Mobile Telecommunications Co. (ZAIN) showed the best performance among most active stocks, dominating the Tadawul’s trading activity and advancing 3.4 percent further.
Its volume set sold about 34.9 million shares, which equates 15.3 percent of total market volume.
The value of these shares totaled SR 316.7 million, a relative market share of 5.2 percent.