The Saudi stock market continued its positive movement, and managed eighth straight rise yesterday, adding 36.72 points further.
Saudi Arabia’s benchmark stock index (TASI) closed higher to 7,613.35, up 0.48 percent from the previous close level. After falling over thirty four points earlier yesterday it bottomed out at 7,542.35 points level and started to rise again and finally crossed the break-even line.
On year-to-date basis, the TASI’s yield reached near twelve percent.
Med cap remained prominent among market cap indices, increasing 1.14 percent for the day.
Most of the major sectors closed in the green territory, accumulating an aggregate of 555 points. Agriculture & Food Industries sector stepped up to occupy the top position at Tadawul, surging 217.4 points or 2.8 percent to close at 7,975.70.
On the negative side, five sectors including Media and Publishing — the worst performer (down 1.83 percent) ended in red, paring 93 points jointly. Tihama Advertising & Public Relations Co. showing excessive losses of SR 4.25 or 3.94 percent became the major decliner at Tadawul.
Heavy weights closed in mixed fashion, where Etihad Etisalat Co. (Mobily) rose 0.93 percent and Riyad Bank fell 2.38 percent for the day.
Advancing stocks outnumbered decliners by a margin of 81 to 52 and the prices of 23 companies remained unchanged.
Savola Group (+5.26 percent) and Al-Abdullatif Industrial Investment Co. (+5.12 percent) showing notable gains became the top performers among all Saudi companies.
Tadawul volume went down by forty percent and traded 250.3 million shares as compared to previous day’s 416.6 million shares. But still it was 6.8 percent greater than 50-day average of 234.3 million shares.
Alinma Bank appeared to be the most active stock of the day, liquidating 29.6 million shares, which equates 11.8 percent of overall market volume.
The value of these shares totaled SR 420.96 million, a relative market share of seven percent. But the company ended without any change.
Agriculture & Food sector surges 2.8%
