24 May 2015
JEDDAH: Despite closing lower for two days during the week, the Tadawul All-Share Index (TASI) entrenched at 9,768.09 and finished the week up over 0.38 percent from its previous weekend close at 9,731.54 points.

The index touched an intra-week high of 9,829.76 and low of 9,695.00 levels, reflecting a narrow trading range of 135 points last week.

On year-to-date basis, the index showed an attractive return of 17.22 percent.

Micro cap turned in a splendid performance among market cap indices, rising 2.59 percent in a week. Total market capitalization of Saudi stock exchange increased slightly to SR2.15 trillion.

Among sectoral indices, transport made the biggest jump of 9.02 percent, crossing 10,000-mark.

Insurance and Retail were other key gaining sectors, surging 4.5 percent and 2.9 percent respectively.

Heavy weights closed in mixed fashion, where Kingdom Holding rose 1.1 percent and Saudi Basic Industries (SABIC), the biggest market cap company, fell 2.35 percent for the week.

Weekly market breadth was strong as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 117 to 47.

New player Saudi Co. for Tools and Hardware (SACO) outdid rest of the Saudi equities, marching higher further by 44.59 percent to close the week at SR 134.11. After IPO, opening price of SACO was SR77.

SABB Takaful followed it, showing a positive weekly change of 19.71 percent.

Market activity remained high last week; specifically 1.43 billion shares worth SR42.8 billion were liquidated at Tadawul.

This turnover reflects a weekly increase of 26.2 percent on volume basis, 32.5 percent in terms of value and 28.1 percent in terms of executed transactions.

Furthermore, upside-downside volume ratio of 1.7:1 remained favorable. The volume of Banking sector increased to a significant level of 400 million shares, 168.8 percent high when compared with previous week's 149 million shares.

Alinma Bank appeared to be the most active stock for the week.

Its volume set sold 178 million shares, which are about 12 percent of the overall market.

Alinma with a liquidity of SR4.3 billion also topped the value chart, a relative market share of ten percent.

Most of the major benchmark indices at GCC stock markets ended the week in green, with Dubai Financial Market rose 1.13 percent. Dubai Parks & Resorts shares climbed to a fresh all-time high last week.

242 GCC stocks advanced and 223 declined last week. Emaar Properties Co. and Etisalat remained prominent among big players of GCC, advancing roughly four percent.

Kuwait Finance House shares value dropped by 4.55 percent on weekly basis at Kuwait stock exchange.

© Arab News 2015