Tadawul: Transport sector index advances 2.39%

13/01/2015 19:04 AST

Despite a steep decline of roughly two percent just after the Tuesday’s opening bell, the benchmark Tadawul All-Share Index making higher peak levels finally managed a reasonable gain of 0.65 percent.

The TASI performed within a trading range of 235 points, closing at 8,491.68. The market cap indices all witnessed a positive change.

Most of the major sectors finished to the upside, accumulating an aggregate of 850 points. Transport outperformed among the sectoral indices, advancing 2.39 percent to reach at 7,309.24.

Insurance and Multi-Investment were other significant advancing sectors, closing up by 2.16 percent and 2.13 percent respectively.

On the other negative side, Hotel & Tourism sector slipped 1.35 percent to 20,369.92. Most of heavyweights extended gains, with Samba Financial Group outdid rest of its peers, growing by 4.12 percent to close at SR 41.35. SAMBA also announced a net profit of more than five billion Riyals for the year 2014, an increase of 11 percent.

Market breadth was positive, whereby 96 symbols closed in green and 52 closed in red, while 15 remained unchanged.

Share price of Saudi Arabia Refineries Co. (SARCO) rallied to a growth of 9.81 percent, clinching the spot as top gainer amongst Saudi stocks. The company volume went 3.5 times high over its 50-day average, closing at SR 55.75.

Bupa Arabia for Cooperative Insurance was another key gainer, surging by 5.78 percent to SR170.75.

Tadawul volume went down by 12.7 percent and traded 310.3 million shares as compared to previous day’s 355.5 million shares.

The 50-day average for trading volume is closer to 293 million shares.

More than eight billion riyals were liquidated into the market.

Again trading activity was led by Alinma Bank, which represented a relative market share of 19.6 percent in terms of volume and 15 percent in terms of liquidity.

The bank also rose half percent to close at SR 20.11.

GulfBase.com