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TADAWUL: Hotel & tourism sector suffers 2.94% decline

The Saudi stock market was in the red on Sunday, reversing after a six-day surge and dropping 27 points.
The Tadawul All-Share Index (TASI) dropped 0.28 percent to close at 9,531.4 points on Sunday. It performed within a range of 52 points, moving 18.2 points up and 34.2 points below the break-even level.
Small cap rose 1.43 percent and remained prominent among market cap indices. Only seven out of Tadawul’s 15 sectors witnessed a positive change, accumulating 279.5 points for the day. Remaining sectors closed in the downward territory, trimming an aggregate of 936 points.
Insurance, Transport and Multi-Investment were key gaining sectors, which advanced by 1.94 percent, 1.29 percent and 1.14 percent respectively.
On the contrary, Hotel & Tourism suffered worst of all sectors, showing a reduction of 619.3 points or 2.94 percent to close the day at 21,982.93.
Kingdom Holding and Al-Rajhi Bank came out as significant players among heavyweights, offsetting their performance by one percent positive-negative change.
Market breadth was slightly positive, whereby 72 symbols closed in green and 70 closed in red, while 17 remained unchanged.
Saudi Indian Company for Co-operative Insurance made the biggest jump among all Saudi equities, achieving a daily growth of 9.94 percent and closing at SR88.5. Saudi Public Transport Co. (SAPTCO) and SABB Takaful followed it, surging by 7.56 percent and 7.25 percent respectively.
SAPTCO with a turnover SR350.5 million positioned itself among the most liquid stocks, closing the day at SR31.3 and ranking third. SABIC with SR479.4 and a relative market share of 5.2 percent remained on the top of liquidity chart.
Al-Hassan Ghazi Ibrahim Shaker recorded the biggest losses, going down by 4.12 percent.
Tadawul total volume set sold approximately 295 million shares, an increase of three percent as compared to previous trading day and 50-day average level as well.