Real estate, telecom gains support Tadawul rebound

Real estate, telecom gains
support Tadawul rebound
Updated 18 June 2012
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Real estate, telecom gains support Tadawul rebound

Real estate, telecom gains
support Tadawul rebound

The Tadawul All-Share Index (TASI) retrieved the lost points of Saturday, as it edged higher by 0.44 percent to 6,754.23 points yesterday.
The Real Estate and Telecom sectors were major winners among sectoral indices, which marginally increased by 1.81 percent and 1.51 percent respectively.
The Media & Publishing switched its position from top performer of previous day to the worst performing sector of the day, declining by 1.55 percent.
Most of the trading was concentrated in the Telecom sector, its more than 156.6 million shares were traded yesterday which accounted for roughly 50 percent of the Tadawul volume. The value of these shares reached to SR1.7 billion, a relative market share of 32 percent.
Six out of top ten market cap companies ended the day in green. Etihad Etisalat Co. (Mobily) and SABB performed well relatively, achieving a growth of 2 percent and 1.5 percent respectively.
However, Samba Financial Group slipped 1.1 percent to close at SR45.3.
Market breadth was positive, whereby 97 symbols closed in green and 32 closed in red, while 22 remained unchanged.
Insurance stocks continued to dominate the market performance, filling the top gainer and loser charts consecutively.
Al-Rajhi Insurance and ACE Arabia Insurance were key gainers of the day, surging by 9.9 percent and 9.6 percent respectively.