Media stocks stay on top with 4.15% surge

27/12/2013 07:55 AST

The contest between bulls and bears ended without any significant change at Saudi stock market Thursday as Tadawul index retreated to 8,481.1 points, which was roughly where it started the session.

Wavering in the North-South within a narrow range of 28.9 points it closed just below the break-even line, dropping less than half point merely.

Small cap with half percent upward jump remained prominent among the market cap indices. Sector indices performed in a mixed fashion, with eight sectors accumulating an aggregate of 233.5 points and six sectors trimming 98.4 points jointly. While, Retail sector ended without any change.

Media and Publishing sector continued its upward march, marking another handsome gain of 4.15 percent and closing at 2,726.38. Multi-Investment sector followed it, advancing more than one percent.

On the other hand, Cement suffered worst of all sectors, going down 0.75 percent and trimming back 7,000-Mark.

Most of heavyweights finished to the upside, with Kingdom holding outdid rest of its peers, surging over two percent and closing at SR 24.7.

Advancing stocks outnumbered decliners by a margin of 75 to 59 and the prices of 25 companies remained unchanged.

Tihama Advertising & Public Relations Company and ANB Cooperative Insurance made the biggest jumps among all Saudi equities, soaring up by 9.93 percent. New player Bawan Company also showed notable gains of 9.89 percent, closing at SR 47.8.

Tadawul turnover went slightly up by 2.6 percent and traded 173.2 million shares as compared to previous day’s 168.8 million shares. The 50-day average for trading volume is closer to 183.9 million shares.

More than five billion riyals were liquidated into the market. Alinma Bank with trades over 15 million topped the volume chart, closing green at SR 14.85.

Gulfbase.com