Largecaps move down with the market

08/06/2015 08:09 AST

The Saudi stock market continued its downward momentum and fell for a third consecutive session on Sunday.

The Tadawul All-Share Index lost further eighty points or 0.83 percent to close at 9,588.01. It performed within a trading range of 103 points.

TASI’s year-to-date gains still remained over 15 percent.

Large cap index dipped exactly as the benchmark did, the GulfBase said in its market commentary.

Sectoral indices pared an aggregate of 1,375 points. Tourism and Transport sectors posted the largest losses, slipping 2.1 percent and 1.4 percent respectively.

Top ten heavyweights finished to the downside, where Saudi Telecom Co. dipping by 2.04 percent, SABB 1.46 percent and National Commercial Bank, the kingdom’s biggest lender, 1.25 percent.

Decliners outnumbered the advancers by a huge margin of 140 to 22.

SABB Takaful Co. came out as key gainer among all Saudi stocks, reflecting an increment of SR 2.63 or 5.78 percent.

Interestingly, the company volume went 3 times high over its 50-day average, liquidating 3.8 million shares. Takaful has achieved a 33 percent growth in one month.

Saudi Chemical Co. followed it, surging four percent for the day. The company volume was 277 percent greater when compared with previous level.

On the other hand, AXA Cooperative Insurance showed the worst performance, declining by 4.14 percent to finish at SR 25.98.



It was fifth consecutive decline of Trade Union Cooperative Insurance on Sunday, fell 2.46 percent.

BUPA Arabia for Cooperative Insurance hit a fresh all-time high SR 250 but finally closed at SR 243.57, down one and half percent for the session.

Tadawul turnover set sold approximately 149 million shares worth SR 4.6 billion, a decrease of 43 to 49 percent over the 50-day average levels.

Alinma Bank continued its most active status, liquidating 27 million shares and pumping SR 649.2 million into the market.

GulfBase.com