Tadawul Index exceeds 10,000-point mark

21/10/2014 20:59 AST

Saudi Arabia's stock market sustained its upward march and managed a third straight rise on Tuesday, again surpassing 10,000-mark.

The Tadawul All-Share Index continued stepping its way higher to end the session at 10,136.46 points, up 254 points at a growth rate of 2.57 percent over the previous close. TASI also logged a healthy YTD return of 18.76 percent.

All sector indices witnessed a positive change, accumulating more than three thousand points jointly. Insurance outdid rest of the sectors, reflecting an increment of 4.1 percent for the entire day to close at 1,577.17. BUPA Arabia for Cooperative Insurance touching all time high of SR168.25 surged 6.45 percent.

Petrochemical Industries, Multi-Investment and Real Estate Development sectors followed the Insurance, turning up by 3.76 percent, 3.34 percent and 3.08 percent respectively. There were 143 net advancing issues, a largely strong market breadth.

WAFRAH for Industry and Development turned in a splendid performance among all Saudi stocks, soaring up 9.95 percent to close the day at SR51.25. Ash-Sharqiyah Development Company was another significant gainer, which rose 9.72 percent for the day.

The market leader SABIC (Saudi Basic Industries Corp.) made the biggest jump among heavyweight equities, achieving a growth of 3.85 percent and closing at SR 114.61. Riyad bank and Samba Financial Group were other key gaining large caps, posting a one-day return of 3.65 percent and 3.32 percent respectively.

Most of the trading was concentrated in Alinma Bank with 34.7 million shares, capturing 11.7 percent of Tadawul volume. It also maintained a heavy flow of liquidity SR 830 million, a relative market share of 8.9 percent.

A good amount of turnover 295.9 million shares worth SR9.3 billion changed hands on the Saudi stock market. This turnover reflects an increase of 17.5 percent on volume basis and twenty percent in terms of liquidity over the previous level.

GulfBase.com