The war between bulls and bears ceased in a standoff at Saudi stock market yesterday, as Tadawul index retreated to 6,705.49 points, which was roughly where it started the day.
The Tadawul All-Share Index (TASI) while gaining less than 10 points earlier yesterday and then changing its direction toward south and spending the entire session in the same territory, closed just below the break-even line losing a nominal 4.42 points or 0.07 percent. The index traded in the range of 48 points.
All sectors performed in a mixed fashion, with eight sectors accumulating an aggregate of 395 points and six sectors trimming 112 points collectively, while, Energy sector closed without any change.
One of the best performing sectors was Transport which rose to 3.36 percent for the day. On the other hand, Petrochemical sector posted the largest losses, down 0.71 percent.
Major heavy weights closed in red; where SABIC (Saudi Basic Industries Corp.) dipped by 1.35 percent and Kingdom Holding 1.24 percent. Riyad Bank, however, advanced 2.17 percent over the day.
The market breadth was positive with 77 stocks witnessing advances against 56 stocks witnessing declines and prices of 20 companies remaining unchanged.
Insurance companies led the top gainer and loser charts, with AMANA Insurance and Enaya Insurance, offsetting their performance by 9.9 percent positive-negative change.
Enaya Insurance showed a tremendous performance during the previous four months, achieving a growth of 625 percent from its IPO price of SR10.
Tadawul falls slightly
