Tadawul: Real estate sector advances over 1%

The benchmark Tadawul All-Share Index (TASI) dug in at 7,643.13 and ended its yesterday’s trading up slightly by 0.1 percent.
Spending almost entire session in the downward territory it took a sharp uplift just before the closing bell, gaining more than seven points. It wavered within a trading range of 75.9 points yesterday. On year-to-date basis, the TASI’s yield reached 12.38 percent.
The market cap indices closed the day in mixed territories.
Sector indices also performed in a mixed fashion, with nine sectors reflecting an accumulation of 294 points and six sectors shedding 79 points collectively.
Real Estate Development sector came out as key performing sector among sectoral indices, advancing more than one percent to 4,433.45. Tourism sector added considerable 125 points, up 0.94 percent to 13,446.05.
On the other hand, Insurance sector posted the largest losses, falling 1.3 percent to 1,031.43.
Six out of top 10 heavyweights ended without any change. Saudi Electricity Co. and Al-Rajhi Bank outdid rest of the heavyweight peers, growing by 0.77 percent and 0.66 percent respectively.
The market breadth with advance-decline ratio of 1.2:1 remained favorable.
Ash-Sharqiyah Development Company stepped up to occupy the top position at Tadawul, jumping 5.5 percent and closing at SR 57.5. Emaar the Economic City was another significant advancer, surging 3.98 percent for the day. The company with 30.4 million shares also topped the volume chart, capturing 16.3 percent of the overall market volume.
Saudi Transport and Investment Company, on the contrary, continued its downward fall, reducing further by SR4.4 or 9.98 percent to SR39.7.
Tadawul volume with trades over 186 million shares remained 14.7 percent greater than previous level but still it was 8.7 percent lower than 50-day average.