The Saudi stock market sustained its upward march, closing the fifth consecutive day with balmy gains.
The Tadawul All-Share Index (TASI) dug in at 7,062.98 points yesterday. It started a sideways walk earlier yesterday but finally closed just above the break-even line, gaining more than five points. The trading range narrowed to 21.9 points as compared to 36.6 points of previous day.
Sector indices performed in a mixed fashion, with seven sectors reflecting an accumulation of 150 points and eight sectors shedding 136 points collectively. Real Estate Development showed the best performance among sectoral indices, rising 62.3 points or 1.74 percent for the day. Insurance was other significant advancers which gained 0.99 percent for the day.
Top ten market cap companies also closed the day in mixed territories. The losses made by the Riyad Bank (-1.07 percent) and Al-Rajhi Bank (-0.37 percent) being offset by rise in SABB (+0.9 percent) and Saudi Telecom Co. (+0.75 percent).
The market breadth with advance-decline ratio of 0.93:1 remained a little unfavorable.
Saudi United Cooperative Insurance Company made the biggest jump among all Saudi equities, achieving a maximum growth of 9.25 percent to close the day at SR 31.9. Amana Cooperative Insurance, which also shifted from top decliner chart to top gainer chart, advancing 6.10 percent and ranking second.
On the other hand, the most liquid Northern Region Cement Company again suffered worst of all equities, showing a further reduction of 2.53 percent to close at SR 21.2.
Tadawul index rises slightly
