Saudi stock market cap falls to SR 1.54 trillion

The Saudi stock market was in the red last week, reversing after a 5-week surge and dropping 5.2 percent.
Saudi Arabia’s benchmark stock index reflecting a 3-day fall including a largest dip of 331.9 points or 4.12 percent during mid of the session, closed at 7,766.52 points last week, trimming 425.87 points for the entire week.
The index went 9 points above and 632 points below the break-even line during the week. Its year-to-date yield still remained over 14.1 percent.
The market capitalization of Saudi stock exchange reached to SR 1.54 trillion, decreasing 4.85 percent from the previous week’s value. Micro Cap indices posted the largest losses, falling 10.63 percent in a week.
Sectoral indices all closed in downward territory, paring an aggregate of 5,612 points for the entire week.
Insurance suffered worst of all sectors, showing a reduction of 11.37 percent to close the week at 1,053.01. Media, Real Estate and Transport sectors followed it, slipping 10.67 percent, 9.83 percent and 9.50 percent respectively. Banks & Financial Services sector suffered least losses comparatively, down 4.2 percent to close at 17,363.05 points.
Top 10 heavy weights also ended the week lower, with Saudi Telecom dipping by 7.01 percent, Samba Financial Group 5.96 percent, Al-Rajhi Bank 4.69 percent and market leader SABIC (Saudi Basic Industries Corp.) 3.79 percent.
Weekly market breadth was entirely in the favor of bears, as only Bank Albilad turned green among Saudi stocks, advancing slightly by 0.32 percent to SR30.9.
After sequential run-ups Aljazira Takaful Taawuni Company has fallen prey to profit-taking last week, topping the weekly decliner chart with 27.42 percent negative change. But the company pumping a liquidity of SR3.9 billion topped the value chart, closing at SR47.9.
Total equity turnover at Tadawul increased to 1.39 billion shares worth SR34.4 billion. This turnover reflects a weekly growth of 31.9 percent on volume basis and 23.9 percent in terms of value.
Dar Alarkan Real Estate appeared to be the most active stock for the week. Its volume set sold roughly 172 million shares, which are about 12.4 percent of the overall market. But its share price closed below the par value, falling 12.56 percent in a week.
All major benchmark indices at GCC stock markets ended the week in red, with Dubai financial market plunged 6.55 percent.
The benchmark GulfBase GCC General Index also closed the week lower at 4,522.81points level, dropping more than 218 points or 4.61 percent for the entire week.