Real estate sector advances 1.2%

The Saudi stock market was in the green yesterday, reversing after a 3-day plunge and gaining 0.54 percent for the day.
The Tadawul All-Share Index (TASI) moved into the green territory earlier yesterday and closed higher to 7,623.89, adding 40.6 points for the entire session. It performed within a trading range of 56.8 points yesterday.
On year-to-date basis, the TASI’s yield reached over twelve percent. All market cap indices finished to the upside. Sectoral performance was tremendous, as 13 out of the 15 sectors closed in the upward territory, accumulating an aggregate of 433.5 points. Real Estate Development was best performing sector of the day, advancing 1.2 percent and closing at 4,599.70.
Only Energy and Tourism sectors went downward, showing fractional declines for the day.
Most of heavy weights closed in green; where Samba Financial Group increasing by 1.92 percent, SABB 1.03 percent and Riyad Bank 0.6 percent.
However, bellwether SABIC (Saudi Basic Industries Corp.) could not manage for gains, going down more than half percent.
Advancing stocks outnumbered decliners by a margin of 92 to 34 and the prices of 30 companies remained unchanged.
Allianz Saudi Fransi Cooperative Insurance continued to show a splendid performance, topping the gainers chart for the second straight day with 9.97 percent positive change.
Dar Al-Arkan Real Estate with a turnover of 55.2 million shares worth SR 576.5 million secured its most active status, capturing more than one-fifth of the market volume.
Tadawul total volume set sold approximately 256 million shares, an increase of 1.5 percent as compared to previous level.
The 50-day average for trading volume is closer to 243.3 million shares.