Tadawul bottomouts to secure 10,000-mark

31/10/2014 09:32 AST

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) closed lower to 10,034.92, shedding 47 points or 0.47 percent for Thursday’s session.

After falling over one and half percent it bottomed out at 9,925.37 points level and started to rise again but ended below the break-even line. On year-to-date basis, the index showed a collection of roughly 1,500 points or 17.57 percent.

Only Tourism and Industrial Investment showed a positive change among sectoral indices. Remaining 13 sectors lost 647 points collectively.

Retail, Insurance, Energy and Multi-Investment reflected the worst performance, each declining more than one percent.

Most of heavyweights finished to the downside, with Kingdom holding dipping by 1.84 percent and the bellwether SABIC (Saudi Basic Industries Corp.) 1.11 percent.

The market breadth confirmed a bearish momentum, as out of 160 stocks traded on Thursday only 37 were able to close higher.

Dallah Healthcare Co. was major decliner at Tadawul, reducing 6.65 percent to SR128.87.

Arabia Insurance Cooperative Co. was another significant loser, depreciating by 5.41 percent. On the positive side, Abdullah A. M. Al Khodari Sons Co. shares jumped to an all-time high of SR74.5, growing 7.77 percent in a day. The company volume went four times high over its 50-day average, liquidating 5.4 million shares.

While, Alinma Bank continued its most active status, pouring more than 19 million shares, which equates 9.4 percent of overall market volume. The value of these shares totaled SR458.7 million, a relative market share of 7.1 percent.

Share trading activity remained ten percent low as compared to previous day. Tadawul total volume set sold approximately 204 million shares worth SR 6.5 billion.

GulfBase.com