Saudi Arabia’s benchmark stock index sustained its upward march Wednesday, closing the day with balmy (+0.12) gains.
The Tadawul All-Share Index (TASI) bouncing between green-red within a range of 37.6 points edged higher to 8,967.62 points. The TASI’s yield reached over five percent since the start of 2014.
All market cap indices ended the day in the safe area. Nine out of Tadawul’s 15 sectors finished to the upside, accumulating an aggregate of 287 points.
Real Estate Development sector surged 83.9 points or 1.6 percent over the day, posting the biggest gains among all sectors. Industrial Investment sector followed it, advancing 1.14 percent for the day.
On the other hand, Insurance suffered worst of all sectors, reducing by 0.76 percent to 1,169.26. Even the top decliner chart was filled by insurance stocks, reflecting a daily reduction ranged from 1.76 percent to 2.65 percent.
The market breadth remained a little unfavorable, with 64 issues witnessing advances against 69 issues recording declines.
Share price of recently traded Saudi Marketing Company (FARM) rallied to a maximum growth of 9.83 percent, clinching the spot as top gainer amongst Saudi stocks.
Trading activity was led by Dar Alarkan Real Estate, which represented a one-third relative market share in terms of volume and 15.6 percent in terms of liquidity. The company liquidated 89.3 million shares, closing green with 3.27 percent surge.
Tadawul total volume exchanged hands approximately 277 million shares, an increase of 15.1 percent as compared to previous level.
Equity turnover reached to SR6.3 billion, an increase of 3.5 percent over the 50-day average level.