Tadawul: Real, banking stocks suffer losses

19/02/2015 20:49 AST

Despite half percent rise after the Wednesday’s opening bell, Saudi Arabia’s benchmark Tadawul All-Share Index finished with a decline of 0.37 percent to 9,407.87.

Curving in the red zone it dipped to a maximum loss of eighty points or 0.84 percent. On year-to-date basis, it showed a collection of more than thousand points.

Except Micro cap, all market cap indices finished to the downside, the GulfBase said in its market commentary.

Sectoral indices performed in a mixed fashion, with six sectors accumulating an aggregate of 794 points and nine sectors trimming 441 points collectively.

The losses made by the Real Estate Development (-1.44 percent) and Banks & Financial Services (-0.66 percent) being offset by rise in Tourism (+2.69 percent) and Multi-Investment (+2.3 percent).

Most of heavyweights closed in the downward territory, with National Commercial Bank dipping by 1.56 percent and the bellwether SABIC (Saudi Basic Industries Corp.) 1.15 percent. Kingdom holding, however, outdid rest of its heavyweight peers, surging more than five to SR 21.29.

The total number of falling stocks exceeded to the total number of rising stocks by a margin of 82 to 68.

Qassim Agriculture Co. remained at top position among all Saudi equities, jumping 7.3 percent for the day.

Alinma Tokio Marine Company, on the contrary, posted the largest losses, falling 4.48 percent to close the day at SR 56.56.

Market activity was a little low for the day; specifically 277 million shares worth SR 7.8 billion were liquidated at Tadawul, a decrease of 27 percent when compared with Tuesday.

Overall turnover also went below the 50-day average, ranging from 15-to-25 percent.

Middle East Specialized Cables Co. maintained inspiring living of Wednesday's contest, liquidating 12.8 million shares and gaining 3.55 percent. Its volume was 92.2 percent greater than that of Tuesday.

GulfBase.com