Real sector wins 22.7% in two months

03/03/2014 07:14 AST

Despite a wide fluctuation, the Tadawul All-Share Index (TASI) declined a little (-0.2 percent) from earlier levels to finish at 9,088.68 points Sunday.

It performed in a trading range of 92 points, moving 31 points up and 61 points below the level of opening bell yesterday.

Only large cap indices ended in the safe area. Five out of Tadawul’s 15 sectors witnessed a positive change, accumulating 306.7 points for the day.

Remaining twofold sectors closed in the downward territory, trimming an aggregate of 635 points.

Real Estate Development turned in a splendid performance among sectoral indices, marking a solid gain of 3.12 percent and closing at 5,843.14. Sector’s yield reached 22.7 percent since the start of 2014.

On the other hand, Construction, Tourism and Transport sectors performed worst, slipping more than one percent for the day. Banks & Financial Services lost 192.6 points, closing exactly one percent lower to 19,064.82.

Among big players, SABIC rose 0.21 percent and Samba Financial Group fell 1.34 percent for the day. The market breadth was in the favor of bears as out of 159 stocks only 35 were able to close up.

Share price of Jabal Omar Development Company rallied to a growth of 8.92 percent, closing at SR41.5. It also topped the value chart, pumping over one billion Riyals into the market.

On the other side of the spectrum, Salama Cooperative Insurance suffered the greatest amount of damages, turning down 4.9 to SR36.8.

Market activity remained 27 percent greater than previous level and over 42 percent than 50-day average level.

Tadawul total turnover set sold approximately 335 million shares worth SR9.53 billion.

Heavy interest was witnessed in Dar Alarkan Real Estate and Mobile Telecommunications-ZAIN, which collectively liquidated about one-fourth of the market volume.

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