Insurance sector dominates trading

The Tadawul All-Share Index (TASI) reflecting the double bottom yesterday, closed below the break-even line losing a nominal 8.81 points or 0.13 percent to reach at 6,887.29 points level. The index traded within a range of 30 points.

Only Micro cap indices moved upward slightly.

Saudi sectors indices performed in a mixed fashion, with seven sectors accumulating an aggregate of 162.9 points and eight sectors trimming 121.9 points collectively. Sectoral performance was dominated by Multi-Investment and Insurance sectors, offsetting their performance by more than one percent positive-negative change.

Most of the trading was also concentrated in the Insurance sector, which pumped more liquidity into the market by contributing SR 1.83 billion, which is approximately 40 percent of overall market turnover. Its more than 42.3 million shares were traded yesterday which accounted for roughly 27 percent of the Tadawul volume.

The Kingdom Holding made the biggest jump among heavyweight equities, achieving a daily growth of 2.08 percent to close the day at SR 14.75.

The market breadth was negative as the total number of falling stocks exceeded to the total number of rising stocks by a margin of 82 to 50 and the prices of 22 companies remained unchanged.

Saudi Land Transport Co. turned in a splendid performance among all Saudi stocks, soaring up 8.83 percent to close the day at SR 77.

© Arab News 2012, Oct 04 2012