Heavyweights minimize intra-day losses at Tadawul

Author: 
ARAB NEWS
Publication Date: 
Wed, 2012-03-28 01:29

Indices of Saudi sectors performed unwell as four sectors accumulated 213.34 points and eleven sectors lost 615.95 points.
Insurance and Banking sectors outperformed, both added nearly 160 points to reflect a daily growth of 1.9 percent and 0.75 percent respectively.
On the worst side, Real Estate Development sector became the biggest loser of the day, down by 2.7 percent or 110.69 points to close at 3,996.47.
Most of heavy weights ended the day in green and minimized intra-day losses at Tadawul.
SABB and market leader SABIC (Saudi Basic Industries Corp.) surged by 2.24 percent and 1.63 respectively. Samba Financial Group ranked third with 1.36 percent positive change.
However, Saudi Electricity Co. slipped 2.46 percent to close the day at SR15.9.
Participation was moderate yesterday; Tadawul turnover went down by 9.3 percent and traded 516 million shares as compared with 600 million shares of previous day.
SABIC regained its leading position; with SR1.2 billion expanded 9 percent liquidity at Tadawul. Furthermore, Mobile Telecommunications-Zain with 66.7 million shares remained as most active stock in terms of volume for the second consecutive day.
Decliners outnumbered the advancers by a margin of 81 to 63 and the prices of 7 companies remained unchanged.
Insurance stocks secured their position as major gainers for the third straight day on Tuesday, with Al Ahlia Insurance, Malath Cooperative Insurance and Enaya Insurance, rising by 9.9 percent.
On the other hand, Allianz Saudi Fransi Coop and ZAIN posted the largest losses amongst Saudi equities, down 9.9 percent and 5.1 percent respectively.

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