Tadawul continues its winning streak

After spending entire last week with impressive gains, Saudi stock market continued its winning streak, reflecting a positive start (+59.05 points) of the new week. The Tadawul All-Share Index (TASI) ended the day in the green at 6,951.66 points, up 0.86 percent, from its previous day close at 6,892.62 points. The index reflected a reasonable trading range of 73 points yesterday. Twelve sector indices at Saudi stock market ended the day with modest gains, accumulating nearly 600 points jointly. Insurance sector occupied the top position, posting 3.63 percent daily growth. The banks and financial services sector added considerable 162 points (+1.04 percent) and closed at 15,779.96. Media and Transport sectors, however, closed lower, trimming 17 points each. Most of heavy weights closed in green; where Al-Rajhi Bank, Saudi Telecom Co. and market leader SABIC (Saudi Basic Industries Corp.) all advanced more than one percent for the day. Only Saudi Arabian Fertilizers Co. (SAFCO) fell down 4.25 percent among top ten heavy weights. It also included in the top decliner chart to close at SR 191.75, ranking second. The market breadth was largely positive as out of total 154 issues traded yesterday, 134 issues advanced, 11 declined and 9 remained unchanged. Insurance companies were the significant winners among all Saudi stocks, with Saudi Arabian Insurance topping the gainer chart with a maximum of 10 percent growth. Arabian Shield Insurance, AMANA Insurance and WATANIYA Insurance followed it, all rising by 9.8 percent for the day. From:Arabsnews