GulfBase Live Support
18/11/2014 20:54 AST
The Saudi stock market bucked the prevailing 5-day negative trend and turned green on Tuesday.
The benchmark Tadawul All-Share Index (TASI) achieved more than hundred points just after the Tuesday’s opening bell and finally added 85.13 points or 0.92 percent to 9,374.68.
On year-to-date basis, the TASI logged a positive return of 9.83 percent. Micro cap index remained prominent for the day. All sectors extended gains except Hotel & Tourism, which trimmed one percent to 22,105.41.
Remaining 14 sectors showed a collection of 1,160 points jointly. Industrial Investment and Multi-Investment showed the best performance among sectoral indices, surging by 3.35 percent and 2.24 percent respectively.
Most of heavy weights closed in green; where Kingdom holding growing by 2.46 percent and market leader SABIC (Saudi Basic Industries Corp.) 2.2 percent.
There were 106 net advancing issues, a largely strong market breadth.
Malath Cooperative Insurance and Saudi Arabian Mining Company remained at top positions among all Saudi equities, soaring up 9.7 percent and 6.7 percent respectively. Malath volume went three times high over its 50-day average, liquidating 9.8 million shares.
On the other side of the spectrum, new player National Commercial Bank has fallen prey to profit-taking after sequential run-ups, dropping 5.81 percent and closing at SR 61.46.
But the company dominated the trading activity, pouring roughly 64 million shares, which equates one-fourth of Tadawul’s total volume. The value of these shares reached to SR 4.1 billion, a relative market share of 41.1 percent.
Share trading activity remained high as compared to previous day; turnover went up by 26.7 percent in terms of value and 14.7 percent on volume basis.
More than 263 million shares worth SR 9.9 billion exchanged hands on the Saudi Stock Market. Overall turnover also crossed above the 50-day average level.
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