Transport sector’s index surges 4%

18/04/2014 06:32 AST

After passing a flat session, the Tadawul All-Share Index (TASI) ended Thursday’s trading in the green at 9,530.58 points, up 26.25 points, from its previous day close at 9,504.33 points. Wavering above the break-even line it edged higher 0.28 percent, reflecting a trading range of 46 points.

Only Micro cap went slightly downward among market cap indices. Most of the major sectors advanced upward, accumulating more than 910 points.

Transport made the biggest jump among sectoral indices, posting a solid growth of four percent to 8,356.02. Real Estate Development and Construction sectors followed it, growing 1.52 percent and 1.37 percent respectively.

On the worst side, Energy & Utilities sector posted the largest losses, falling 0.8 percent for the day.

Top ten market cap companies ended the day in a mixed fashion. The losses made by Al-Rajhi Bank (-0.91 percent) and Saudi Electricity Co. (-0.88 percent) being offset by rise in SAFCO (+0.83 percent) and SABB (+0.66 percent).

Advancers outnumbered the declining stocks by a margin of 78 to 70 and the prices of 12 companies remained unchanged.

The National Shipping Co. of Saudi Arabia (BAHRI) and Red Sea Housing Services Company remained at top positions among all Saudi equities, soaring up 9.84 percent and 9.78 percent respectively.

BAHRI volume went 4.4 times high over the 50-day average level, liquidating 6.6 million shares to SR35.68. RSH shares also hit a new 5-year high level, closing at SR94.75.

Most of the trading was concentrated in Dar Al-Arkan with 47.4 million shares, capturing 13.2 percent of Tadawul volume. It also maintained a heavy flow of liquidity SR591.3 million, a relative market share of 5.6 percent.

Tadawul turnover increased by 7.3 percent as 358 million shares, worth SR10.5 billion changed hands during the day, an improvement from 333.7 million shares that were traded on Wednesday.

GulfBase.com