After three consecutive days of trading in the red, the Saudi stock market rebounded yesterday, recovering a few points merely.
The Tadawul All-Share Index (TASI) edged higher 0.20 percent to 6,696.84 points on the back of strong performance by Transport sector. The index traded in the range of 6,680.6 to 6,719.01.
Most of the major sectors closed in the green territory; Transport sector remained at top showing an increment of 205.33 points or 5.28 percent for the day. Only five sectors ended in red, paring 132.54 points collectively.
Hotel & Tourism sector became the biggest loser of the day, showing a decrease of 0.87 percent.
Heavy weights closed in mixed fashion, where bellwether SABIC (Saudi Basic Industries Corp.) retrieved entire loss of previous day, surging by 1.2 percent.
On the other hand, Etihad Etisalat Co. (Mobily) fell further by 1.6 percent, closing the day at SR 62.5.
The market breadth was positive with 74 stocks witnessing advances against 57 stocks witnessing declines and prices of 23 companies remaining unchanged.
Insurance stocks topped the gainers and losers charts at Tadawul. New player Alinma Tokio Marine made the biggest jump up 9.86 percent among all Saudi equities. The biggest loser of the day was Allianz Saudi Fransi (down 6.84 percent).
Most of the trading was concentrated in the Insurance and Telecom sectors. It reached 61.96 million shares, reflecting 28.1 percent market share.
On the other hand, Insurance sector pumped more liquidity into the market by contributing SR 1.72 billion, which is approximately one-third of overall market turnover.
Tadawul index rebounds
