Retail, Petchem stocks stay in limelight

03/02/2015 05:45 AST

Saudi Arabia’s benchmark Tadawul All-Share Index continued its upward march on Monday, marking another gain of 0.76 percent.

Despite a plunge of 53 points after the opening bell, it finished with a reasonable gain of 69.2 points, closing at 9,213.14. On a year-to-date basis, the index logged a positive return of 10.56 percent.

All market cap indices ended the day in the upward territory.

Thirteen out of Tadawul's 15 sectors ended the day with modest gains, accumulating over 967 points collectively.

Retail sector advanced roughly 500 points or three percent over the day, posting the biggest gains among all sectors.

Petrochemical Industries was another significant advancing sector, which grew 2.16 percent to 6,557.95.

Market breadth with advance-decline ratio of 3.6:1 remained extremely strong.

Nama Chemicals Co. stepped up to occupy the top position at Tadawul, jumping 9.8 percent and closing at SR 13. Fawaz Abdulaziz AlHokair Company followed it, surging 9.08 percent to SR 108.81.

Both companies witness more than twenty percent positive change in one week. Interestingly, AlHokair volume went 5.2 times high over its 50-day average volume.

Furthermore, Gulf Union Cooperative Insurance marked its tenth consecutive win on Monday, up 2.92 percent to SR 20.42.

The bellwether SABIC (Saudi Basic Industries Corp.) outdid rest of its heavyweight peers for the second consecutive day, rising 2.66 percent further to SR 95.21. SABIC also grew more than twenty percent in one week.

Dar Alarkan Real Estate continued to top the volume chart, liquidating 92.8 million shares, which equates one-fifth of the overall market volume.

While, Alinma Bank continued its most liquid status, pumping approximately one billion Riyals into the market, a relative market shares of 8.9 percent.

More than 461 million shares worth SR 11.5 billion exchanged hands on the Saudi Stock Market. The 50-day average for trading volume is closer to 332 million shares.

GulfBase.com