Tadawul rises on low volume

Saudi Stocks showed narrow fluctuations yesterday, as Tadawul index traded in the range of 44 points on relatively low volume. Tadawul All-Share Index (TASI) inched up to close at 6,670.02 points yesterday. It earlier slid into red territory and subsequently traveled sideways throughout the day and finally edged up to add 28.92 points or 0.44 percent for the day. Tadawul Investors lacked buying interest yesterday, as the market's volume went 40.6 percent below the 50-day average of 313.9 million shares. Liquidity also shrank to SR4.1 billion, 32 percent lower than the 50-day average of SR 6.1 billion. Thirteen out of the fifteen sectors ended positively, reflecting a collection of 226.8 points. Insurance sector advanced 1.5 percent over the day, posting the biggest gains among all sectors. Petrochemical Industries followed it, rising by 1.1 percent for the day. Only Transport and Retail sectors closed in downward territory, paring a nominal 12.6 points jointly. Top ten heavy weights also ended the day in green, with Saudi Arabia Fertilizers Co. (SAFCO) continuing to perform well for the third straight day, increasing by 3.67 percent. The bellwether SABIC (Saudi Basic Industries Corp.) retrieved a portion of previous days' losses, advancing by 1.45 percent. There were 41 net advancing issues, a largely positive market breadth. Allied Insurance and Saudi Integrated Telecommunication were key gainers and jumped over 9.9 percent for the day. Amana Insurance continued its upward march throughout the week, surging by 9.8 percent to close at SR 103.5. Its value has been appreciated by 39.5 percent in four consecutive days. From: Arabnews