Media sector crosses 3,000-mark

29/01/2014 07:28 AST

The Saudi stock market bucked the two-day downward trend and turned green Tuesday, adding a single point merely.

The Tadawul All-Share Index (TASI) wavering above the break-even level in a reasonable range of 63.9 points advanced a little to 8,656.11 points.

Market cap indices showed mixed performance for the day. Most of the major sectors closed in the green territory, accumulating an aggregate of 290 points.

Media and Publishing showed the best performance among sectoral indices, rising 1.27 percent and crossing the 3,000-mark. Retail sector added 105.8 points, up 0.85 percent.

On the other negative side, Tourism and Cement sectors slipped 0.61 percent for the day. Advancing stocks outnumbered decliners by a margin of 81 to 49 and the prices of 28 companies remained unchanged.

Bupa Arabia for Cooperative Insurance made the biggest jump among all Saudi equities, soaring up SR 3.0 or 6.64 percent to close at SR 48.2.

Market activity remained 10 to 15 percent lower than previous day.

Roughly 192 million shares worth SR 5.9 billion were poured into the market.

All most active stocks finished to the upside, with Al-Ahsa Development Co. surging by 3.38 percent and Rabigh Refining and Petrochemical Co. 2.36 percent.

Alinma Bank dominated the trading volume at Tadawul, liquidating 31.9 million shares and capturing 16.6 percent of market volume.

The bellwether SABIC (Saudi Basic Industries Corp.) with a turnover roughly SR 835 million topped the value chart, closing at SR111.75.

Gulfbase.com