Media and Publishing index posts 7.42% gain

19/05/2014 06:36 AST

The benchmark Tadawul All-Share Index (TASI) reflecting a sideways walk added a couple of points on Sunday. It performed within a low range of 24.7 points, closing at 9,809.81.

On year-to-date basis, TASI’s yield reached 14.93 percent. Among market cap indices only Large cap went slightly downward.

The Kingdom holding and SABB performed worst amongst large caps, going down more than one percent. The market leader SABIC (Saudi Basic Industries Corp.) dipped 0.42 percent, closing at SR177.99.

Media and Publishing sector surged 7.42 percent over the day, posting the biggest gains among all sectors.

Market breadth was positive, with 74 stocks witnessing advances and 63 others marking a decline. Tihama Advertising & Public Relations Co. turned in a splendid performance among all Saudi stocks, soaring up SR27.36 or 9.96 percent to close the day at SR302.

SADAFCO and Trade Union were other significant gainers, moving up by 6.55 percent and 6.32 percent respectively.

Wafa Insurance, on the other hand, posted the largest losses, slipping more than five 5.47 percent to SR95.62.

Tadawul volume went up by 2.63 percent and traded 448.5 million shares as compared to previous day’s 437 million shares. The 50-day average for trading volume is closer to 333.6 million shares.

A good amount of liquidity SR12.2 billion were poured into the market, an increase of 22.6 percent over the 50-day average level.

Saudi Mobile Telecommunications Co. (ZAIN) and Dar Alarkan Real Estate showed the best performance among most active stocks, closing green and capturing over 30 percent market volume jointly.

Both companies also pumped SR1.7 billion collectively, contributing 13.8 percent to the aggregated value.

GulfBase.com