Energy, Transport shares in the limelight

18/05/2015 05:29 AST

The Saudi stock market ended Sunday’s trading session solidly in the green. The Tadawul All-Share Index (TASI) closed up 83 points or 0.85 percent to 9,814.65, after being up as much as 0.97 percent.

Micro cap advancing 1.43 percent outdid rest of the market cap indices, the GulfBase said in its market commentary.

Sectoral indices all ended the day in green, accumulating an aggregate of 1,515 points.

Energy and Transport posted the biggest gains, marching higher by 3.46 percent and 2.04 percent respectively. Insurance sector added considerable 1.94 percent, closing at 1,611.72.

Most of heavyweights finished to the upside, with Saudi Electricity Co. (SECO) increasing by 3.99 percent and Kingdom Holding Co. 1.5 percent.

SECO shares also climbed to a fresh five-year high of SR 20.9 and Kingdom has surged more than 13 percent in five consecutive sessions.

Petrochemical giant Saudi Basic Industries Corp. (SABIC) closed at SR 108.59, up 0.87 percent.

Advancing stocks outnumbered decliners by a huge margin of 146 to 17 and the prices of 2 companies remained unchanged.

Share price of SABB Takaful Co. rallied to a maximum growth of 10 percent to SR 11, clinching the spot as top gainer amongst Saudi stocks. Interestingly, the company volume went 3.6 times high over its 50-day average.

New player Saudi Co. for Tools and Hardware (SACO) followed it, surging 9.97 percent and closing at SR102.

Tadawul volume with trades over 260 million shares remained 16.1 percent greater than previous level but still it was 21.3 percent lower than 50-day average.

Liquidity rose a little to SR 7.2 billion, an increase of 6.2 percent from the previous level but still it was 18.9 percent lower than 50-day average.

Most of the trading was concentrated in Dar Al-Arkan with 55.2 million shares, capturing 21.2 percent of the market volume.

But the company is still trading below its par-value.

GulfBase.com