Tadawul takes a sharp positive-turn

13/10/2014 19:22 AST

Saudi Arabia’s benchmark stock index (TASI) rebounded on Monday and dug in at 10,377.94, recovering 2.29 percent from the biggest dip of Sunday.

The index performed in a high range of 271 points, showing a positive change of 232 points. Sectoral performance was tremendous, as all sectors closed in green and accumulated an aggregate of nearly 3,328 points.

Transport, Insurance and Energy were major gainers, which marginally increased by 3.83 percent, 3.62 percent and 3.2 percent respectively.

There were 139 net advancing issues, a largely strong market breadth.

AXA Insurance and Aldrees Petroleum Co. showed the best performance among all Saudi stocks, moving up 9.66 percent and 9.47 percent respectively.

Alinma Bank remained prominent among most active stocks, gaining roughly four percent and liquidating over 34 million shares. The value of these shares total SR771.6 million, a relative market share of 9.8 percent.

United Cooperative Assurance Co. volume went 3.3 times high over its 50-day average, adding 7.77 percent for the session. The company share price climbed to a fresh two-year high before closing at SR31.9.

Market activity was ten percent low as compared to previous day. More than 237 million shares worth SR 7.9 billion changed hands on the Saudi stock market.

Furthermore, Saudi Electricity Co., Saudi British Bank and market leader SABIC (Saudi Basic Industries Corp.) remained at top among big players, surging by 4.19 percent, 3.71 percent and 2.15 percent respectively.

SABB volume increased more than 50 percent as compared to previous day.

GulfBase.com