Transport stocks plunge 2.69%

04/06/2015 08:36 AST

The benchmark Tadawul All-Share Index (TASI) ended Wednesday's trading in the red at 9,678.75 points, down 0.39 percent or 37.96 points from its previous day close.

It performed within a trading range of 59 points. Only Micro cap remained intact among market cap indices, the GulfBase said in its market commentary.

Media and Publishing was the single advancing sector, closing the day slightly up to 2,313.45.

Remaining 14 sectors pared an aggregate of 781.4 points. Transport sector posted the largest losses, falling 2.69 percent to close the day at 10,349.91.

Energy & Utilities sector was another significant decliner, slipping 1.46 percent for the day.

Most of heavyweights closed in the downward territory, with Saudi Electricity Co. dipping by 1.88 percent, Saudi Telecom 1.08 percent and Petrochemical flagship Saudi Basic Industries Corp. half percent.

Only Almarai Co. showed a positive change among large caps, advancing 0.34 percent to SR 90.48.

The total number of falling stocks exceeded to the total number of rising stocks by a margin of 109 to 51.

Share price of National Shipping Co. of Saudi Arabia (BAHRI) dived to a decline of 3.97 percent, closing at SR 52.78.

On the other positive side, Wafa Insurance soared up eight percent to SR 23.33. Interestingly, Wafa volume went 5.8 times high over its 50-day average, liquidating 9.7 million shares.

It was fifth consecutive win of SASCO on Wednesday, up 2.36 percent for the session. Share price of Al Hammadi Development & Investment Co. climbed to a fresh all-time high of SR 65.25, up more than one percent.

Approximately 175 million shares worth SR6.1 billion changed hands on the Saudi stock market.

The 50-day average for trading turnover is closer to 298 million shares worth SR8.2 billion. Alinma Bank with trades over 16.5 million topped the volume chart, capturing 9.5 percent of the market volume.

GulfBase.com