Tadawul shows positive trend

The Saudi stock market depicted a positive drive yesterday, as Tadawul All-Share Index (TASI) wavering in the green territory for most of the session closed 0.31 percent higher at 6,763.12 points level. The index went 25.6 points above and 13.4 points below the break-even line during the day. All market cap indices ended the day in the green district. Thirteen out of Tadawul's 15 sectors moved upward, showing a collection of 426 points. Only Agriculture and Banking sectors closed a little lower from previous day's level, trimming nearly 48 points for the day. Hotel and Tourism showed the best performance among sectoral indices, moving up by 1.58 percent. Media and Publishing sector followed it, rising by 1.51 percent. Market breadth was positive, whereby 93 symbols closed in green and 44 closed in red, while 18 remained unchanged. Al-Babtain Power & Telecommunication Company outperformed among all Saudi equities, reflecting an increment of SR 2.25 or 9.64 percent to close the day at SR 25.60. Top ten market cap companies ended the day in a mixed fashion. The losses made by the SABB (-1.64 percent) and Al-Rajhi Bank (-0.39 percent) being offset by rise in Saudi Telecom (+0.97 percent) and Saudi Arabia Fertilizers Co. (+0.62 percent). Share trading began to taper off, as Tadawul volume set sold approximately 147.6 million shares, a decrease of 12.5 percent as compared to previous day. The volume also remained 18.7 percent below the 50-day average of 181.5 million shares. Arabnews