Saudi stocks rebounded yesterday. The benchmark Tadawul All-Share Index (TASI) rose sharply by 1.44 percent or 112 points for the entire session to close at 7,878.74. TASI’s year-to-date gains again reached near 16 percent.
Micro cap remained prominent, posting a growth over three percent.
Sectoral performance was tremendous, as all sectors closed in green and accumulated an aggregate of nearly 1,918.7 points.
The tourism, real estate and Insurance sectors were major gainers, which marginally advanced by 3.61 percent, 3.57 percent and 3.53 percent respectively.
Most of heavyweights extended gains, with Saudi Electricity Co. increasing by 1.15 percent and bellwether SABIC (Saudi Basic Industries Corp.) 1.04 percent.
For the day, only SABB went downward slightly, reducing by 0.76 percent to SR39.2.
Most active stocks also witnessed a positive change, with Aljazira Takaful Taawuni Company surging by 9.6 percent, Dar Alarkan Real Estate 4.3 percent and Emaar the Economic City 3.4 percent.
There were 148 net advancing issues, a largely strong market breadth.
Insurance companies were the significant winners amongst Saudi stocks, with Wafa Insurance soaring up 9.92 percent and Buruj Insurance 9.85 percent.
Tadawul total volume set sold approximately 232 million shares, an increase of 1.7 percent as compared to previous level. The 50-day average for trading volume is closer to 211 million shares.
Alinma Bank dominated the trading activity at Tadawul. It liquidated more than 33 million shares, capturing 14.3 percent of the overall market volume.
The value of these shares reached to SR469 million, a relative market share of 8.6 percent.
Real estate, insurance and tourism sectors gain sharply
