Jun 04 2012 |
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Tadawul on the rebound
After three consecutive days of trading in the red, the Saudi Stock Market rebounded yesterday, recovering one percent from the biggest dip of previous day.The Tadawul All-Share Index (TASI) opened with positive note yesterday; spending most of the session above the break-even line closed green at 6747.69, up 66.51 points or 1.0 percent from previous level.
Sectoral performance was tremendous, as all sectors closed in green, accumulating an aggregate of over 900 points.
Positive performance was boosted by agriculture sector, surged 161.5 points or 2.61 percent to close at 6,349.08.
It was followed by Building & Construction, up 2.06 percent.
Large market cap companies also ended the day in green, with Saudi Telecom Co. and Kingdom Holding moved 1.5 percent up for the day.
However, Riyad Bank and Saudi Arabia Fertilizers Co. (SAFCO) went down by 0.88 percent 0.59 percent respectively.
Market breadth was largely positive, whereby 117 symbols closed in green and 22 closed in red, while 12 remained unchanged.
The top gainers and losers charts were filled with the insurance stocks. Prices of Amana Insurance and Enaya Insurance rallied to a maximum growth of 10 percent for the day.
On the other hand, ACE Arabia Insurance and Weqaya Takaful were the biggest losers, down 7.83 percent and 2.32 percent respectively.
Mobile Telecommunications Company (Zain) with trades over 91.8 million shares remained as the most active stock of the day, representing nearly one-fourth market share.
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