20 April 2013
Saudi stocks have been falling in a consecutive manner last week on relatively high turnover.
The Tadawul All-Share Index (TASI) reflecting downward march throughout the week ended in the red territory at 7,060.04 points, down 177.8 points or 2.46 percent, from its previous weekend close at 7,237.82 points. It performed within a trading range of 220 points last week.
The TASI reduced its year-to-date gains to 259 points or 3.8 percent.
Total market capitalization of Saudi stock exchange reached to SR 1.43 trillion, decreasing by 3.2 percent from the previous week's value.
The market cap indices all finished to the downside, with large cap falling 3.6 percent last week.
Saudi Electricity Co. and market leader SABIC (Saudi Basic Industries Corp.) recorded the biggest losses amongst large caps, going down by 7.45 percent and 7.12 percent respectively.
All Saudi sectors performed negatively, except Media and Agriculture, which remained green for several weeks, advancing further by 2.4 percent and 1.4 percent respectively. Rest of the 13 sectors trimmed more than 2,152 points for the week.
Energy & Utilities suffered worst of all sectors, showing a reduction of 347 points or 6.86 percent to close the week at 4,715.14. Industrial Investment, Transport and Petrochemical sectors followed it, declining by 4.74 percent, 4.49 percent and 4.41 percent respectively.
Weekly market breadth was unfavorable, with 39 stocks witnessing advances and 110 others marking a decline.
Ash Sharqiyah Development and Allied Cooperative Insurance Group showed the best performance among all Saudi equities, topping the weekly gainers chart with a positive change of 12.5 percent and 11.25 percent respectively. Saudi Industrial Export showing excessive losses of 34.3 percent became the major decliner, closing the week at SR63.25.
Tadawul volume with trades over 1.3 billion shares remained 13.8 percent greater than previous week's level but upside-downside volume ratio of 0.6:1 remained negative.
Dar Alarkan Real Estate appeared to be the most active stock for the week.
Its volume set sold 138.1 million shares, which are about 10.6 percent of the overall market.
Most of the major benchmark indices at GCC stock markets ended the week in red.
The benchmark GulfBase GCC General Index also closed the week lower at 4,106.51 points level, dropping more than 53 points or 1.3 percent for the entire week.
Saudi stocks have been falling in a consecutive manner last week on relatively high turnover.
The Tadawul All-Share Index (TASI) reflecting downward march throughout the week ended in the red territory at 7,060.04 points, down 177.8 points or 2.46 percent, from its previous weekend close at 7,237.82 points. It performed within a trading range of 220 points last week.
The TASI reduced its year-to-date gains to 259 points or 3.8 percent.
Total market capitalization of Saudi stock exchange reached to SR 1.43 trillion, decreasing by 3.2 percent from the previous week's value.
The market cap indices all finished to the downside, with large cap falling 3.6 percent last week.
Saudi Electricity Co. and market leader SABIC (Saudi Basic Industries Corp.) recorded the biggest losses amongst large caps, going down by 7.45 percent and 7.12 percent respectively.
All Saudi sectors performed negatively, except Media and Agriculture, which remained green for several weeks, advancing further by 2.4 percent and 1.4 percent respectively. Rest of the 13 sectors trimmed more than 2,152 points for the week.
Energy & Utilities suffered worst of all sectors, showing a reduction of 347 points or 6.86 percent to close the week at 4,715.14. Industrial Investment, Transport and Petrochemical sectors followed it, declining by 4.74 percent, 4.49 percent and 4.41 percent respectively.
Weekly market breadth was unfavorable, with 39 stocks witnessing advances and 110 others marking a decline.
Ash Sharqiyah Development and Allied Cooperative Insurance Group showed the best performance among all Saudi equities, topping the weekly gainers chart with a positive change of 12.5 percent and 11.25 percent respectively. Saudi Industrial Export showing excessive losses of 34.3 percent became the major decliner, closing the week at SR63.25.
Tadawul volume with trades over 1.3 billion shares remained 13.8 percent greater than previous week's level but upside-downside volume ratio of 0.6:1 remained negative.
Dar Alarkan Real Estate appeared to be the most active stock for the week.
Its volume set sold 138.1 million shares, which are about 10.6 percent of the overall market.
Most of the major benchmark indices at GCC stock markets ended the week in red.
The benchmark GulfBase GCC General Index also closed the week lower at 4,106.51 points level, dropping more than 53 points or 1.3 percent for the entire week.
© Arab News 2013
