Tihama and Alalmiya shares hit all-time high

Tihama and Alalmiya shares hit all-time high
Updated 20 May 2014

Tihama and Alalmiya shares hit all-time high

Tihama and Alalmiya shares hit all-time high

Saudi Arabia's benchmark Tadawul All-Share Index (TASI) dug in at 9,731.47 points on Tuesday, reversing after a one-day plunge. The index performed within a reasonable range of 66.5 points, gaining 6.72 points or 0.07 percent for the entire day.
Among market cap indices, only Large cap finished to the downside. Mobily fell 0.81 percent and market leader SABIC (Saudi Basic Industries Corp.) 0.74 percent. Sectoral performance was mixed, with seven sectors accumulating an aggregate of 777.6 points and eight sectors trimming over 488 points collectively.
Again Media and Publishing made the biggest jump among sectoral indices, posting a solid growth of 6.33 percent to 5,577.75. Agriculture & Food Industries was another significant advancer, which achieved 1.73 percent value appreciation.
On the other hand, Hotel & Tourism suffered worst of all sectors, going down one and half percent. The market breadth was almost balanced with 69 issues witnessing advances against 68 issues recording declines.
Tihama Advertising & Public Relations Co. continued its sequential run-up, marking another gain of 9.93 percent. Alalmiya Insurance followed it, surging 9.88 percent for the day. Both companies’ share hit a new all-time high, closing at SR365 and SR109.75 respectively.
Tadawul's trading activity was dominated by Mobile Telecommunications Company (Zain), which liquidated more than 98 million shares worth one billion riyals approximately. Zain volume went 4.8 times high over its 50-day average, capturing 26.2 percent of the total volume.
Market activity was a little low for the day; specifically 375.2 million shares were flowed, having a worth of SR10.7 billion. This turnover reflects a daily decrease of 35.4 percent on volume basis and 26.3 percent in terms of liquidity. But still it was greater than 50-day average level.