Tadawul index breaks 9,000-point barrier

01/02/2015 19:33 AST

The benchmark Tadawul All-Share Index logged a sharp gain of roughly three percent on Sunday, surpassing the psychological important 9,000 points mark.

The index opened with a largely positive note (+4.0 percent) and finally added 265.4 points, closing at 9,143.93.

Large Cap made the biggest jump among market cap indices, posting a handsome growth over three percent.

All heavyweights extended gains, where market leader SABIC (Saudi Basic Industries Corp.) surging by 7.47 percent, Al-Rajhi Bank 4.09 percent and Jabal Omar Development Co. 3.33 percent.

Only Saudi Telecom Co. closed the day a little bit lower to SR 66.01. Five Saudi stocks including Jabal Omar also hit an all-time high on Sunday.

Sectoral indices finished to the upside, accumulating an aggregate of 4,194 points. Retail sector showed the best performance, soaring up 5.66 percent to 16,692.85 points level.

Petrochemical Industries, Media and Tourism sectors followed it, advancing 4.49 percent, 4.24 percent and 4.05 percent respectively.

The market breadth confirmed a bullish momentum, as out of 163 stocks traded Sunday 150 managed for gains.

Saudi Research and Marketing Group turned in a splendid performance among all Saudi stocks, achieving an increment of 9.93 percent to SR 19.25.

National Agriculture Marketing Co. (Thimar) was another significant gainer, rising by 9.84 percent to SR 88.38.

The volume of fourteen Saudi stocks including Thimar went high over their 50-day average. Dar Al-Arkan Real Estate with trades over 73 million shares secured its most active status, capturing 14.5 percent of the overall market volume.

While, Alinma Bank pumping a liquidity of SR 1.54 billion topped the value chart, a relative market shares of 11.2 percent.

Market activity was high; specifically 507.4 million shares worth SR13.7 billion were transacted at Tadawul.

This turnover reflects a significant increase of 55.1 percent on volume basis and 61.6 percent in terms of liquidity over the 50-day average level.

Gulfbase.com