Tadawul trends upward by 2.43%

28/01/2015 05:35 AST

The Saudi stock market ended Tuesday’s trading session solidly in the green.

The benchmark Tadawul All-Share Index posted its largest intra-day increase of 2015, adding 206 points or 2.43 percent to close at 8,686.16.

TASI’s year-to-date collection reached 4.23 percent on Tuesday.

Large cap with 2.61 percent upward jump remained prominent among the market cap indices. Top ten large caps extended gains significantly, with market leader SABIC (Saudi Basic Industries Corp.) outdid rest of its peers, surging 6.36 percent to SR 84.01.

All sectoral indices finished to the upside, accumulating an aggregate of 2,350 points.

Industrial Investment and Petrochemical sectors remained at top, witnessing a positive change of 4.58 percent and 4.3 percent respectively. Building & Construction sector rose 3.18 percent and Banking sector 2.61 percent.

There were 138 net advancing issues, a largely strong market breadth. Insurance stocks were the significant winners of the day with Allianz Saudi Fransi Cooperative Insurance soaring up 9.89 percent and Trade Union Insurance 9.1 percent. It was fifth consecutive gain of Trade union, closing at SR 45.19.

Herfy Food Services Co. shares raced to an all-time high of SR 114, growing 2.19 percent to finish at SR110.42.

A good amount of turnover 457.9 million shares worth SR11.0 billion changed hands on the Saudi stock market.

This turnover reflects an increase of 47.8 percent on volume basis and 34.1 percent in terms of liquidity over the 50-day average levels.

Dar Al-Arkan Real Estate with a volume roughly 96 million shares continued its most active status, a relative market share of 20.95 percent.

Furthermore, Etihad Etisalat Co. (Mobily) topped the value chart, pumping approx one and half billion Riyals into the market. The company volume also went 5.8 times high over its 50-day average, liquidating 39.4 million shares.

GulfBase.com