Saudi Stock Market Declined 0.07 Percent on Its First Trading Day of The Week

The Saudi stock market declined 0.07 percent on its first trading day of the week. The Tadawul All-Share Index (TASI) started positively and reached the day s highest level of 7, 179.49 points in early trading, but then declined and closed yesterdaya? ? S trading at 7, 134.24 points, dropping a mere (-4.77) points. TASI traded within a range of 45.25 points yesterday. Saudi sectors indices performed in a mixed fashion, eight sectors added a gain against previous day s closing while seven sectors ended in red zone. Multi-Investment sector outperformed, up by 1.44 percent to close at 3, 386.40 points. Transport sector declined by 1.22 percent (58.09 points) and closed at 4, 684.30 points followed by Telecom & IT by 0.65 percent and Cement sector by 0.25 percent and closed at 2, 139.86 points and 6, 061.70 points respectively. The market breadth was slightly weak with 74 stocks witnessing declines against 64 stocks witnessing advances while 6 stocks remained unchanged. Tadawul volume with trades over 297.9 million shares remained 29.21 percent greater than the previous trading day level. Investors confidence enhanced as they poured more than SR 7.12 billion into the market, 17.82 percent greater liquidity than previous day. Four out of top ten market cap companies ended the day in green, with Kingdom Holding rising 4.1 percent for the day, SABIC (Saudi Basic Industries Corp. ) adding up SR 0.55 and closing at SR 92.50. However, Etihad Etisalat (Mobily) fell 1.07 percent to close at SR 69.25. Amana Insurance continued to show the best performance among all Saudi stocks, it added SR 17.50 (10 percent) to its previous day s price and closed at SR 192.50. Amana Insurance stock price increased on 6 consecutive trading days, adding 55.87 percent to its share value. Arabian Shield showed the worst performance, declining by 9.98 percent followed by Arabia Insurance Cooperative (AICC) and SAPTCO; Their price decreasing by 8.42 percent and 2.71 percent respectively. Source: uaecement