Market cap falls to SR 1.44 trillion

The Saudi stock market was in the red last week, reversing after a 3-week surge and dropping 0.82 percent.
Saudi Arabia’s benchmark stock index reflecting a 3-day fall during the week, closed at 7,147.42 points last week, trimming 58.85 points for the entire week.
The index went 28 points above and 121 points below the break-even line during the week.
On an YTD basis, TASI registered a positive return of 346.2 points or 5.09 percent.
The market capitalization of Saudi stock exchange reached to SR 1.44 trillion, decreasing 0.78 percent from the previous week’s value.
Only Med cap indices moved upward slightly last week.
Saudi sector indices performed negatively, except Petrochemical Industries and Real Estate, which gained 65 points jointly. Rest of the 13 sectors trimmed more than 1,475 points for the week.
Insurance suffered worst of all sectors, showing a reduction of 175.7 points or 13.28 percent to close the week at 1,147.69. Media and Tourism sectors followed it, declining by 4.12 percent and 3.59 percent respectively.
Most of heavy weights closed the week a bit lower, with SABB falling 1.97 percent, Al-Rajhi Bank 1.12 percent and Kingdom Holding 0.89 percent.
The market breadth was in the favor of bears as out of 156 issues traded last week only 28 were able to close higher.
Saudi Industrial Investment Group showed the best performance among all Saudi stocks, moving up 6.17 percent to close the week at SR 24.95.
On the other side of the spectrum, National Agriculture Marketing Co. (Thimar), BURUJ Insurance and Al Ahlia Insurance suffered the greatest amount of damages, turning down 26.71 percent, 25.76 percent and 24.62 percent respectively.
Tadawul weekly turnover, however, improved by 12.7 percent on volume basis, 6.8 percent on value basis and 8.7 percent in terms of executed transactions. More than 891.3 million shares worth SR 25.5 billion changed hands on the Saudi stock market.
Furthermore, upside-downside volume ratio was 0.3:1.
Jabal Omar Development Company remained key gainer among heavy weight stocks, achieving a weekly growth of 4.26 percent.
Most of the major benchmark indices at GCC stock markets ended the week in green.
The benchmark GulfBase GCC General Index closed the week higher at 4,294.57 points level, adding 22.28 points or 0.52 percent for the entire week.