Despite an upward jump (+40 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a surprise decline of 0.14 percent yesterday. The index remained above the break-even line for most of the session but continued stepping its way lower to drop 9.63 points finally, closing at 6,982.89.
Only Med cap among the market cap indices managed to gain slightly.
Most of the sector indices ended negatively, with nine sectors paring an aggregate of 243 points. Media and Publishing sector came out as the biggest loser of the day, down by 2.27 percent or 69.4 points to close below the 3,000-mark. Industrial Investment - the single gaining sector of previous day - followed it, declining more than one percent.
On the positive side, six sectors moved upward slightly, showing a collection of 187 points. Transport sector remained the significant gainer yesterday, advancing exactly one percent to cross 5,000-mark.
Six out of top 10 heavy weights closed in red, with Saudi Arabian Mining Co. dipping by 2.29 percent, Saudi Arabia Fertilizers Co. (SAFCO) 2.11 percent and Saudi Telecom 1.73 percent. Only three heavyweights including Kingdom Holding, the best performer (up 2.25 percent), turned green.
The market breadth with advance-decline ratio of 0.43:1 remained unfavorable.
Saudi Industrial Export Co. showed a tremendous performance among all Saudi stocks, marching higher by 6.2 percent to SR 103. Saudi Land Transport and Gulf Union Cooperative Insurance followed it, marking a gain of 4.2 percent.
New player Northern Region Cement Company, which maintained a heavy flow of liquidity SR 1.7 billion with trades over 57.9 million, topping the value and volume charts at Tadawul for the second straight day. But the company dived to a maximum decline of 10 percent, closing the day at SR 27.
Tadawul declines after early rise
