Tadawul declines after early rise

Despite an upward jump (+16.5 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday.
The index performed within a range of 32.6 points, closing the day at 7,635.75. On year-to-date basis, it showed a collection of roughly 835 points.
Among market cap indices only Small cap was able to close a little higher (+0.5 percent).
Only five out of Tadawul’s 15 sectors witnessed a positive change, accumulating 378.5 points for the day. Remaining twofold sectors closed in the downward territory, paring an aggregate of 315 points.
Real Estate Development outdid rest of the Saudi sectors, surging by 3.3 percent or 148 points to close the day at 4,599.71. Hotel & Tourism sector also added almost same number of points, up 1.3 percent.
On the other hand, Agriculture & Food Industries showed the worst performance, going down 1.7 percent and trimming back 8,000-mark.
Top ten heavyweight equities ended the day in a mixed fashion. The losses made by the SABB (-2.52 percent) and Samba Financial Group (-0.8 percent) being offset by rise in Kingdom Holding (+1.02 percent) and Mobily (+0.62 percent).
The total number of falling stocks exceeded to the total number of rising stocks by a margin of 91 to 43.
Makkah Construction & Development Co. remained at top position among all Saudi equities, jumping 9.84 percent for the day.
Saudi Indian Company for Co-operative Insurance, on the contrary, delivered a largely negative performance, slipping 7.87 percent to SR137.5.
Share trading activity remained high as compared to previous day; turnover went up by 18.3 percent on volume basis and 10.4 percent in terms of liquidity.
Saudi Mobile Telecommu-nications Co. (Zain) continued to dominate the trading activity, liquidating over 47 million shares, which equates 15.2 percent of the overall market volume.