Tourism sector index surpasses 22,000-mark

01/05/2014 07:12 AST

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) dug in at 9,585.22 and ended its Wednesday’s trading up over 22 points or 0.23 percent.

It went 34.5 points above and 7.7 points below the break-even line during the day. On an YTD basis, TASI registered a positive return of 12.3 percent.

Among market cap indices only Small cap could not manage for gains. Most of the major sector indices finished to the upside, accumulating an aggregate of 1,190.5 points.

Hotel & Tourism was major winner among sectoral indices, which surged exactly three percent to close the day at 22,338.5. Multi-Investment was another significant gaining sector, growing by 2.31 percent.

On the other negative side, Media and Publishing suffered worst of all sectors, reducing by 5.7 percent to 4,594.48.

Most of heavyweights extended gains, with Saudi Telecom outdid rest of its peers, advancing 2.85 percent to close at SR65.83. Kingdom Holding shares have climbed to a new all time high of SR27.9, achieving 1-day growth of 2.2 percent.

The market breadth was positive, with 74 stocks witnessing advances and 71 others marking a decline.

Al Sorayai Trading Group and Red Sea Housing Services Company topped the performance chart at Tadawul, soaring up 9.55 percent and 7.94 percent respectively. Sorayai volume also went 7.4 times high over the 50-day average level, liquidating 8.8 million shares to SR26.25. Share trading activity remained low yesterday, as Tadawul volume went down to 302.9 million shares, a decline of nearly 8 percent over the previous level and the 50-day average level as well. More than ten billion Riyals flowed into the market.

Etihad Atheeb Telecommunication Company with trades 29.9 million shares topped the volume chart, capturing 9.9 percent of the overall market volume. But it repeated the worst performance of previous day, slipping 9.81 percent further to SR16.

GulfBase.com