Commenting on the Tadawul's high trading activity, Basil Kabbani of Zughaibi & Kabbani Financial Consultants, said: "The significant level of turnover and bullish signals perhaps spur reluctant investors from the sidelines to take part and pour more money."
The Tadawul All-Share Index (TASI) inched up further to close at 7,353.79 points yesterday. It touched the intra-day high at 7,371.04 points but could not sustain the upward momentum, while curving in the south edged up to add nominal 2.51 points or 0.03 percent for the day.
Longest winning streak of Saudi scrips continued for the thirteenth consecutive day yesterday. Tadawul has achieved an advancement of 14.6 percent from year-to-date.
One of the best performing sectors was Real Estate Development which rose to 2.93 percent for the day with Emaar, the Economic City jumped 9.74 percent. Dar Alarkan Real Estate Development ranked third which surged 6.4 percent to close the day at SR10.
Dar Alarkan with 155.2 million shares worth SR1.53 billion also topped the volume and value charts at Saudi stock market. It reflected a share of 20.9 percent of Tadawul's total turnover.
Top ten market cap companies closed the day in the negative territory except Saudi Electricity Co. and Kingdom Holding which rose to 1.8 percent for the day. Al-Rajhi Bank was the worst performer among large cap stocks, down 3.4 percent.
The market breadth was positive as out of total 150 scrips traded, 76 scrips advanced, 57 declined and 17 remained unchanged.
