Saudi Arabia's benchmark stock index sustained its downward fall for the third consecutive day, shaving further 69.31 points yesterday. The index zigzagging downward closed lower to 7,018.52, paring 0.98 percent for the entire day. The TASI trimmed its year-to-date gains to 3.2 percent.
The market cap indices all finished to the downside, with Small cap declining 1.2 percent for the day.
Saudi sectors indices performed negatively, with twelve sectors trimming an aggregate of 616 points. Banks & Financial Services sector remained the biggest loser of the day, down by 1.85 percent or 288 points to close at 15,277.18. Real Estate Development and Insurance were other significant decliners, shedding 1.54 percent and 1.47 percent respectively.
On the positive side, Hotel & Tourism sector made the biggest jump, reflecting an increment of 218 points or 2.78 percent to cross 8,000 points mark.
Major heavy weights also closed lower from previous day's level, where Al-Rajhi Bank dipping by 2.85 percent and Saudi Telecom Co. 1.82 percent. Only Saudi Arabian Fertilizers Co. (SAFCO) showed a positive change, advancing 0.65 percent for the session.
The market breadth was largely negative as the total number of falling stocks exceeded to the total number of rising stocks by a margin of 118 to 20 and the prices of 18 companies remained unchanged.
Al-Tayyar Travel Group showed the best performance among all Saudi stocks, surging by 5.24 percent to close at SR75.25.
Amana Cooperative Insurance, on the other hand, posted the largest losses for the second straight day, falling 9.97 percent further. Dallah Healthcare Holding Company — the most liquid stock — followed Amana, turning down 9.9 percent to SR82.
Tadawul index continues to fall
