Despite a plunge of 43 points after the opening bell, the benchmark Tadawul All-Share Index (TASI) finished with a balmy gain of 0.11 percent or 10.73 points, closing at 9,473.71.
With this increment, TASI’s YTD yield has reached eleven percent. Only Large cap index could not manage for gains yesterday. Heavy weights Riyad Bank and Saudi Telecom Co. fell more than one percent to close at SR34.9 and SR66 respectively.
Eight out of Tadawul’s fifteen sectors extended gains, reflecting an accumulation of 914.4 points. Retail outdid rest of the sectors, surging 482.3 points or 3.34 percent and closing at 14,929.14.
Hotel & Tourism sector followed it, advancing 1.2 percent for the session. Insurance sector, on the other hand, posted the largest losses, falling exactly one percent to close the day at 1,201.76.
The market breadth was almost balanced with 70 issues witnessing advances against 69 issues recording declines.
Alujain Corporation and Saudi Industrial Development Co. showed the best performance among all Saudi stocks, soaring up 9.3 percent and 7.3 percent respectively. Alujan volume went 8.21 times high over the 50-day average level, liquidating over seven million shares.
On the other side of the spectrum, Al Ahlia Insurance suffered the greatest amount of damages, turning down 7.6 percent to SR70.5.
BUPA Arabia for Cooperative Insurance after hitting a new all-time high of SR60.5 took a rebound and dipped over five percent to SR56.
wihile, Dar Al-Arkan continuing its most active status topped the volume chart, pouring 29.5 million shares. But the company finished to the downside, closing at SR12.5.
Roughly 260 million shares worth SR7.8 billion changed hands on the Saudi stock market. Tadawul volume still remained slightly below the 50-day average level.