07 November 2013
The Saudi stock market sustained its upward march Wednesday, closing the sixth consecutive session in green.
The Tadawul All-Share Index (TASI) wavering within a range of 31.7 points rose to 8,188.46 points. It added further 17.72 points or 0.22 percent for the entire day.
Large cap remained prominent among market cap indices, posting a daily growth of 0.36 percent. Most of heavyweights extended gains, with Saudi Telecom Co. outdid rest of its peers, surging 1.7 percent to close at SR50.75. The bellwether SABIC (Saudi Basic Industries Corp.) rose by one and half percent.
Petrochemical Industries sector stepped up to occupy the top position at Tadawul, advancing more than one percent to close at 6,837.03. Advanced Petrochemical Company came out as key gainer in this sector, reflecting an increment of SR1.5 or 3.75 percent.
On the other hand, Hotel & Tourism switched to worst performing sector, going down nearly 255 points or 1.66 percent.
The market breadth was slightly negative, with 60 stocks witnessing advances and 76 others marking a decline.
Bupa Arabia for Cooperative Insurance dominated the performance among all Saudi equities, topping the gainer chart with 6.4 percent positive change, closing the day at SR 36.6.
Market activity was a little low for the day; specifically 151.5 million shares worth SR 4.1 billion were liquidated at Tadawul. This turnover reflects a daily decrease of 22.8 percent on volume basis and roughly 24 percent in terms of liquidity.
But upside-downside volume ratio of 1.05:1 remained favorable.
Most of the trading was concentrated in Alinma Bank with 18.9 million shares, capturing 12.5 percent of market volume. While, SABIC pumping a liquidity of 377.3 million secured its most liquid status.
The Saudi stock market sustained its upward march Wednesday, closing the sixth consecutive session in green.
The Tadawul All-Share Index (TASI) wavering within a range of 31.7 points rose to 8,188.46 points. It added further 17.72 points or 0.22 percent for the entire day.
Large cap remained prominent among market cap indices, posting a daily growth of 0.36 percent. Most of heavyweights extended gains, with Saudi Telecom Co. outdid rest of its peers, surging 1.7 percent to close at SR50.75. The bellwether SABIC (Saudi Basic Industries Corp.) rose by one and half percent.
Petrochemical Industries sector stepped up to occupy the top position at Tadawul, advancing more than one percent to close at 6,837.03. Advanced Petrochemical Company came out as key gainer in this sector, reflecting an increment of SR1.5 or 3.75 percent.
On the other hand, Hotel & Tourism switched to worst performing sector, going down nearly 255 points or 1.66 percent.
The market breadth was slightly negative, with 60 stocks witnessing advances and 76 others marking a decline.
Bupa Arabia for Cooperative Insurance dominated the performance among all Saudi equities, topping the gainer chart with 6.4 percent positive change, closing the day at SR 36.6.
Market activity was a little low for the day; specifically 151.5 million shares worth SR 4.1 billion were liquidated at Tadawul. This turnover reflects a daily decrease of 22.8 percent on volume basis and roughly 24 percent in terms of liquidity.
But upside-downside volume ratio of 1.05:1 remained favorable.
Most of the trading was concentrated in Alinma Bank with 18.9 million shares, capturing 12.5 percent of market volume. While, SABIC pumping a liquidity of 377.3 million secured its most liquid status.
© Arab News 2013
