The Saudi stock market recorded nominal losses yesterday, as the Tadawul All-Share Index (TASI) closed lower to 7,496.57, dropping 7.81 points or 0.10 percent for the entire day. It went 6.8 points above and 38.5 points below the break-even line during the day.
TASI’s year-to-date gains reached below seven hundred points.
Med Cap with 0.8 percent fall suffered worst of all market cap indices.
Sector indices performed in a mixed fashion, with six sectors reflecting an accumulation of 398 points and eight sectors shedding more than three hundred points collectively.
Media and Publishing showed the best performance among sectoral indices, surging 120.75 points or 4.27 percent. Saudi Printing & Packaging Company made the biggest jump among all Saudi equities, marching higher by 9.8 percent to close the day at SR 38.1.
On the other hand, Agriculture & Food Industries posted the largest losses, slipping 1.5 percent for the day. Tabuk Agriculture showing excessive losses of 5.53 percent became the major decliner at Tadawul, closing the day at SR41.
Market breadth with advance-decline ratio of 0.44:1 remained extremely weak.
Etihad Etisalat Co. (Mobily) and Samba Financial Group played well among big players, advancing 1.9 percent and 1.2 percent respectively.
On the contrary, Kingdom Holding played worst rest of its heavyweight peers, going down by 1.4 percent.
Share trading began to taper off, as Tadawul volume set sold approximately 157 million shares, a decrease of 15 percent as compared to previous level. The volume also remained 36 percent below the 50-day average of 247.5 million shares.
Only Atheeb Telecom remained unharmed among most active stocks, liquidating over eight million shares and gaining 1.62 percent.
Media and Publishing sector surges 4.3%
