28 June 2015
JEDDAH: Despite closing higher for three days during the week, Saudi Arabia's benchmark stock index delivered negative end results last week.
It finished the week at 9,367.29 points level, down 138.44 points or 1.46 percent from its previous weekend close.
The TASI plunged to a maximum of 2.92 percent below the break-even line during the week.
Still its YTD return of 12.41 percent is the highest among other GCC benchmark indices.
Large cap index dipping over two percent contributed to the weak closing of the market.
The market capitalization of Saudi stock exchange reached to SR2.07 trillion, decreasing half percent from the previous week's value.
SABIC (Saudi Basic Industries Corp.) is the biggest market cap company, representing a market share of 14.7 percent.
Saudi Ground Services Co. (SGS) added its worth to the total market cap last week. On Thursday after IPO, share price of SGS rallied to a maximum daily gain of 10 percent.
The company provides ground handling services to local and foreign airlines in all 27 airports across Saudi Arabia.
However, Industrial Investment and Banking sectors posted the largest weekly losses, falling 2.9 percent and 2.7 percent respectively.
On the other positive side, Media and Publishing sector rose 7.9 percent and Multi-Investment sector 2.3 percent.
Weekly market breadth was unfavorable, with 53 stocks witnessing advances and 112 others marking a decline. Furthermore, upside-downside volume ratio was 0.43:1.
Tihama Advertising and Public Relations Co. remained at top position, marching higher 23.23 percent and closing the week at SR108.75.
On the other side of the spectrum, National Gypsum Company and National Industrialization Company suffered the greatest amount of damages, turning down approximately eight percent in a week.
The heavyweight Al-Rajhi Bank plunged 7.22 percent last week. However, Kingdom Holding finished the week to the upside, gaining 3.83 percent to SR22.79.
Again Alinma Bank with trades over 102 million shares worth SR2.4 billion led the activity charts at Tadawul. The bank achieved a relative market share of 13.6 percent in terms of volume and 10.3 percent in terms of liquidity.
Market volume went down slightly and traded 755.5 million shares as compared to previous week's 770.8 million shares.
Approximately, SR23.4 billion pumped into the market, a decrease of seven percent from previous week's value.
The volume of Multi-Investment sector was up more than hundred percent.
While, banking sector volume was ten percent down from previous week's 170.6 million shares. The sector is also accounted for 27.5 percent of the total market turnover.
Most of the major benchmark indices at GCC stock markets ended the week in green, with Abu Dhabi Exchange (ADX) rose 4.13 percent.
Emirates Telecommunication Corp. (Etisalat) outdid rest of the GCC stocks, soaring up 20.69 percent in a week which attributed to allow foreigners to buy up to 20 percent equity in the company.
Share price of the company climbed to a fresh five year high before finishing the week at AED14.
The UAE telecom operator Etisalat operates in 19 markets across the Middle East, Africa and Asia and is awaiting the regulatory approval to exit the Tanzanian market by selling its 85 percent stake in Zanzibar Telecom Ltd. (Zantel) to Sweden's Millicom.
Ezdan Real Estate share price increased 8.19 percent during the week at Qatar stock exchange.
Nearly 195 GCC stocks advanced and 314 declined last week. But upside-downside volume ratio of 5:1 remained extremely strong.
JEDDAH: Despite closing higher for three days during the week, Saudi Arabia's benchmark stock index delivered negative end results last week.
It finished the week at 9,367.29 points level, down 138.44 points or 1.46 percent from its previous weekend close.
The TASI plunged to a maximum of 2.92 percent below the break-even line during the week.
Still its YTD return of 12.41 percent is the highest among other GCC benchmark indices.
Large cap index dipping over two percent contributed to the weak closing of the market.
The market capitalization of Saudi stock exchange reached to SR2.07 trillion, decreasing half percent from the previous week's value.
SABIC (Saudi Basic Industries Corp.) is the biggest market cap company, representing a market share of 14.7 percent.
Saudi Ground Services Co. (SGS) added its worth to the total market cap last week. On Thursday after IPO, share price of SGS rallied to a maximum daily gain of 10 percent.
The company provides ground handling services to local and foreign airlines in all 27 airports across Saudi Arabia.
However, Industrial Investment and Banking sectors posted the largest weekly losses, falling 2.9 percent and 2.7 percent respectively.
On the other positive side, Media and Publishing sector rose 7.9 percent and Multi-Investment sector 2.3 percent.
Weekly market breadth was unfavorable, with 53 stocks witnessing advances and 112 others marking a decline. Furthermore, upside-downside volume ratio was 0.43:1.
Tihama Advertising and Public Relations Co. remained at top position, marching higher 23.23 percent and closing the week at SR108.75.
On the other side of the spectrum, National Gypsum Company and National Industrialization Company suffered the greatest amount of damages, turning down approximately eight percent in a week.
The heavyweight Al-Rajhi Bank plunged 7.22 percent last week. However, Kingdom Holding finished the week to the upside, gaining 3.83 percent to SR22.79.
Again Alinma Bank with trades over 102 million shares worth SR2.4 billion led the activity charts at Tadawul. The bank achieved a relative market share of 13.6 percent in terms of volume and 10.3 percent in terms of liquidity.
Market volume went down slightly and traded 755.5 million shares as compared to previous week's 770.8 million shares.
Approximately, SR23.4 billion pumped into the market, a decrease of seven percent from previous week's value.
The volume of Multi-Investment sector was up more than hundred percent.
While, banking sector volume was ten percent down from previous week's 170.6 million shares. The sector is also accounted for 27.5 percent of the total market turnover.
Most of the major benchmark indices at GCC stock markets ended the week in green, with Abu Dhabi Exchange (ADX) rose 4.13 percent.
Emirates Telecommunication Corp. (Etisalat) outdid rest of the GCC stocks, soaring up 20.69 percent in a week which attributed to allow foreigners to buy up to 20 percent equity in the company.
Share price of the company climbed to a fresh five year high before finishing the week at AED14.
The UAE telecom operator Etisalat operates in 19 markets across the Middle East, Africa and Asia and is awaiting the regulatory approval to exit the Tanzanian market by selling its 85 percent stake in Zanzibar Telecom Ltd. (Zantel) to Sweden's Millicom.
Ezdan Real Estate share price increased 8.19 percent during the week at Qatar stock exchange.
Nearly 195 GCC stocks advanced and 314 declined last week. But upside-downside volume ratio of 5:1 remained extremely strong.
© Arab News 2015
