6 sector indices make modest gains

The Saudi stock market changed a little from earlier levels yesterday, as Tadawul All-Share Index (TASI) retreated to 7,149.42 points, which was roughly where it started the session. The TASI while wavering in the North-South within a range of 27 points, closed just below the break-even line dropping a nominal 6.35 points or 0.09 percent. Six sector indices at Saudi stock market ended the day with modest gains, accumulating nearly 257 points jointly. Remaining nine sectors closed lower, paring an aggregate of 137 points. Transport and Industrial Investment sectors occupied the top positions, rising by 1.86 percent and 1.36 percent respectively. On the other hand, Telecom sector was the significant decliner going down by 0.6 percent. Most of heavy weights closed in red, with Kingdom Holding dipping by 0.93 percent, Etihad Etisalat Co. (Mobily) 0.72 percent and Saudi Telecom Co. 0.50 percent. However, Saudi Arabia Fertilizers Co. (SAFCO) and SABB outdid rest of the heavyweight peers, advancing 0.8 percent and 0.63 percent respectively. Market breadth was slightly negative, as only 46 Saudi companies were able to manage a gain for the day. Al-Sorayai Trading & Industrial Group made the biggest jump among all Saudi equities, achieving a maximum growth of 9.75 percent to close the day at SR 31.5. Amana Cooperative Insurance followed it, rising 5.2 percent for the day. Tadawul turnover went down further by 4.6 percent in terms of volume and 7.5 percent in terms of value. From : Arabnews