The Saudi stock market recorded mild losses (-0.4 percent) Wednesday, trimming back the 8,000-mark.
Saudi Arabia’s benchmark stock index (TASI) closed lower to 7,998.21, shedding 32.37 points for the entire day. After falling over fifty points during the session it bottomed out at 7,979.4 points level and started to rise again but ended below the break-even line.
On year-to-date basis, the TASI’s yield reached 17.6 percent. All market cap indices finished to the downside, with Large cap falling over 0.6 percent.
Etihad Etisalat Co. (Mobily), Samba Financial Group and market leader SABIC (Saudi Basic Industries Corp.) performed worst among large caps, dipping by 2.03 percent, 1.41 percent and 1.03 percent respectively.
Again four out of Tadawul’s 15 sectors witnessed a positive change, accumulating 35.5 points merely. Rest of the 11 sectors closed in the downward district, paring an aggregate of 420 points.
Telecommunication & Information Technology switched its position from top performer of previous day to the worst performing sector of the day, declining by 1.14 percent to 2,494.90. Hotel & Tourism sector was another significant decliner, going down 110.6 points or 0.75 percent.
The total number of falling stocks exceeded to the total number of rising stocks by a margin of 92 to 49.
Al Sorayai trading and Industrial group and Bupa Arabia topped the performance chart at Tadawul, surging by 3.75 percent and 3.42 percent respectively.
On the contrary, United International Transportation Company suffered worst of all equities, showing a reduction of SR 2 or 2.91 percent.
Tadawul volume set sold approximately 214 million shares, a decrease of 17 percent as compared to previous level and 1.7 percent below the 50-day average of 217.9 million shares.
Liquidity also shrank to SR5.1 billion, 5.4 percent lower than the 50-day average level.
Telecom sector suffers 1.14% losses
