The Saudi stock market continued its downward fall yesterday, closing the third straight day with mild losses.
Saudi Arabia's benchmark stock index (TASI) ended lower to 7,139.3, shedding 0.27 percent or 19.45 points for the entire day. It went 20.7 points above and 35.6 points below the break-even line during the day.
TASI's year-to-date gains reduced further to 4.97 percent.
Micro cap declined nearly four percent among the market cap indices.
Fourteen out of Tadawul's fifteen sectors witnessed a negative change, dropping an aggregate of 627 points.
Insurance showing excessive losses of 6.65 percent became the major declining sector for the second straight day, closing at 1,167.78.
Only Petrochemical Industries sector has been unharmed by the day's trading, gaining 46.45 points or 0.79 percent and closing below the 6,000-mark.
Top ten heavyweight equities ended the day in a mixed fashion. The losses made by the Kingdom Holding (-0.59 percent) and SABB (-0.57 percent) being offset by rise in Saudi Telecom (+1.02 percent) and Al-Rajhi Bank (+0.37 percent).
The market breadth confirmed a bearish momentum, as out of 156 stocks traded yesterday only 26 were able to close higher.
Sahara Petrochemical Co. outperformed among all Saudi equities, reflecting an increment of SR 0.7 or 4.79 percent to close the day at SR 15.3. The company has also been able to occupy the place at volume chart, liquidating more than 9.5 million shares, and ranking second.
Tadawul total volume set sold approximately 181 million shares, a decrease of 8.9 percent as compared to previous day.
Tadawul index continues to fall
