Saudi TASI sinks 161 pts in week; market cap shrinks $28.53bln

The transportation sector led the losers after sliding by 5.3%

  

Riyadh – The Saudi Stock Exchange's benchmark Tadawul All Share Index (TASI) extended its weekly losing streak, pressured by concerns over the spread of the new coronavirus.

TASI lost 160.82 points or 2.11% to close the week ended on 5 March at 7,467.52 points, compared to 7,628.34 points a week earlier.

The transportation sector led the losers after sliding by 5.3%, followed by the commercial services sector which fell by 4.9%.

As for heavyweight sectors, the banks segment topped the decliners with 3.6%, followed by the basic materials and energy sectors which went down by 2.37% and 1.1%, respectively.

On the other hand, the real estate investment traded funds (REITs) and food retailing segments advanced by 2.26% and 1.95%, in that order.

Market cap shrank by SAR 107.09 billion ($28.56 billion) or 1.27% over the week to SAR 8.318 trillion ($2.218 trillion), compared to SAR 8.425 trillion ($2.247 trillion) a week earlier.

Meanwhile, the market’s turnover surged by 54.1% to SAR 21.84 billion last week, while traded volume hiked by 51.4% to 873.73 million shares from 577.1 million.

Source: Mubasher

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