Sunday, December 15, 2019
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Tadawul: Banking sector index exceeds 19,000-mark

The Saudi stock market ended Sunday’s trading session solidly in the green. The Tadawul All-Share Index (TASI) closed up 74.5 points or 0.85 percent to 8,835.12, after being up as much as 82.8 points.
TASI’s year-to-date collection reached 300 points or three and half percent on Sunday. Large cap with 1.38 percent upward jump remained prominent among the market cap indices.
Most of heavyweights finished to the upside, with Riyad Bank surging by 2.71 percent, Saudi Telecom Co. 2.45 percent and SABB 2.36 percent. The bellwether SABIC (Saudi Basic Industries Corp.) rose by 1.34 percent.
12 out of Tadawul’s 15 sectors ended the day with modest gains, accumulating an aggregate of 897 points. Tourism and Real Estate Development were major gainers among sectoral indices, which marginally increased by 2.27 percent and 1.86 percent respectively.
Banks & Financial Services sector added considerable 310 points, up 1.65 percent to cross 19,000-mark.
Advancing stocks outnumbered decliners by a margin of 71 to 69 and the prices of 18 companies remained unchanged.
National Agriculture Marketing Co. made the biggest jump among all Saudi equities, surging over six percent to SR57. The Saudi Investment Bank was another significant advancer, jumping 5.82 percent for the day.
A considerable amount of turnover 269.4 million shares worth SR7.2 billion changed hands on the Saudi stock market.
This turnover reflects an increase of 33 percent on volume basis and 28.6 percent in terms of liquidity over the 50-day average levels.
Alinma Bank turned in a splendid performance among most active stocks, advancing 4.81 percent for the day to SR 17.4. It with trades over 78.5 million shares topped the volume chart, capturing roughly 29.2 percent of the overall market volume.
The value of these shares totaled SR1.4 billion, a relative market share of 18.8 percent.