Petchem stocks weigh down Tadawul

21/02/2015 06:09 AST

Saudi equities took another dip, as the Tadawul All-Share Index fell sharply by 107.7 points or 1.14 percent to close Thursday’s trading session at 9,300.2.

The maximum intraday loss was 150 points after mid of the session.

Large cap with a negative change of 1.52 percent suffered worst of market cap indices, the GulfBase said in its market commentary.

Top ten Large cap equities closed down on Thursday. Most of the major sector indices logged a negative change, trimming more than thousand points on aggregate basis.

Petrochemical sector showed the worst performance, slipping two percent to 6,416.01. The market leader SABIC (Saudi Basic Industries Corp.) fell 2.61 percent, closing at SR 92.41.

Real Estate and Banking sectors followed Petrochemical, going down 1.72 percent and 1.43 percent respectively.

Decliners outnumbered the advancers by a margin of 100 to 46 and the prices of 17 companies remained unchanged.

United Cooperative Assurance topped the performance chart at Tadawul, marching higher by 5.33 percent to close at SR 17.52.

Share price of Takween Advanced Industries raced to an all-time high of SR 60.75 before closing at SR 60.35, up 2.47 percent for the session.

While, the heavyweight Saudi British Bank showing excessive losses of 3.82 percent became the major decliner. But the bank volume went 4.2 times high over its 50-day average.

Dar Alarkan Real Estate with trades over 78 million shares worth SR 769.8 million continued its most active status, capturing one-fourth of the market volume.

Tadawul volume went up by 10.8 percent and traded approximately 307 million shares as compared to previous day’s 277 million shares.

But still it was 16.6 percent less than the 50-day average of 368.2 million shares.

More than SR 7.75 billion flowed into the market. The 50-day average liquidity is closer to SR9.2 billion.

GulfBase.com