The Saudi stock market continued to fall yesterday. The Tadawul All-Share Index (TASI) dropped further 25.97 points to close at 7,031.04 yesterday, down 0.37 percent over the previous close.
The index slid into red territory earlier yesterday, subsequently traveled sideways throughout the day and finally ended in the same area, showing a trading range of nearly 50 points. All market cap indices closed the day in the negative zone.
Five out of Tadawul's 15 sectors witnessed a positive change. Remaining twofold sectors closed in the downward territory, paring an aggregate of 225 points for the entire day.
Hotel & Tourism and Transport sectors were major gainers among sectoral indices, which marginally increased by 0.8 percent and 0.7 percent respectively. Industrial Investment, on the contrary, delivered a negative performance for the third straight day, slipping 1.15 percent further.
Most of heavy weights closed a bit lower with market leader SABIC (Saudi Basic Industries Corp.) falling 1.09 percent and Samba Financial Group 1.08 percent for the day.
The market breadth was negative as out of 154 stocks traded yesterday, 48 were up and 88 were down while 18 remained unchanged.
Insurance companies continued to dominate the market performance, with WALAA Insurance surging 9.45 percent and Amana Cooperative Insurance 6.96 percent.
The market’s overall volume went 40 percent below the 50-day average of 253 million shares.
Tadawul declines further 25.97 points
