Media & Publishing sector surges over 6%

09/04/2014 07:20 AST

The Saudi stock market turned green on Tuesday, achieving 0.61 percent growth for the day. The Tadawul All-Share Index (TASI) curving in the upward territory added 57.7 points, closing at 9,565.28 points.

On a year-to-date basis, the index crossed a positive return of 12 percent. All market cap indices ended in the safe area.

Most of the major sectors closed in the green territory, accumulating an aggregate of thousand points.

Media and Publishing sector surged 6.01 percent over the day, posting the biggest gains among all sectors. Agriculture and Telecom sectors followed it, rising 2.53 percent and 1.96 percent respectively.

Retail sector, on the other hand, logged the largest losses, slipping 0.86 percent but still closing above 15,000-mark.

Saudi Telecom turned in a splendid performance among top ten heavyweight stocks, soaring up 4.15 percent to close the day at SR69. SABB and Mobily were other key gainers, advancing more than one percent for the session.

The market breadth confirmed a bullish momentum, as out of 159 stocks traded yesterday only 44 showed a negative change.

Saudi Fisheries Co. and Saudi Advanced Industries Co. dominated the performance chart at Tadawul. Prices of both rallied to a maximum growth of 10 percent to close the day at SR41.8 and SR25.3 respectively.

At this price level, Fisheries also made a new 2-year high. Its volume (7.1 million shares) went 5.8 times high over the 50-day average level. Advanced’s share price has appreciated nearly 55 percent in one year.

All most active and liquid stocks finished to the upside. Atheeb Telecom remained prominent, liquidating more than forty million shares and gaining 4.65 percent.

Market activity remained roughly 20 percent greater than previous level.

More than 374 million shares worth SR11.3 billion changed hands on the Saudi stock market. The turnover also went high over the 50-day average level significantly, ranging from 28 percent to 42 percent.

GulfBase.com