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TADAWUL: Industrial investment index up 2.72 percent, rises past 8,000-mark

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) dug in at 9,445.69 and ended its Monday’s trading up over 20 points.
It took a U-turn after 40 points earlier fall and then moving sideways edged higher just before the closing bell, adding 0.22 percent for the entire session. On year-to-date basis, the TASI logged an attractive return of 10.66 percent.
Only large cap index could not manage for gains on Monday. The market leader SABIC (Saudi Basic Industries Corp.) dipped by 2.82 percent to close the day at SR113.43.
Sectoral performance was positive, with 11 sectors accumulating an aggregate of 517 points.
Industrial Investment outdid rest of the sectors, soaring up 2.71 percent and crossing 8,000-mark. Building & Construction was another key gaining sector, growing by 1.59 percent.
On the negative side, Hotel & Tourism sector suffered worst, turning down 0.86 percent and closing at 22,156.59.
The advancers easily outnumbered declining stocks on the Tadawul; as for 65 percent stocks that gained, 24 percent ended lower and 11 percent remained unchanged.
Saudi Chemical Company remained at top position among all Saudi equities, surging by 9.63 percent and closing at SR67.83. Saudi Printing and Packaging Company followed it, gaining 6.34 percent.
On the contrary, National Agriculture Marketing Co. (Thim’ar) after hitting a new 5-year high slipped 5.7 percent to SR120.17.
Market activity remained roughly 15 percent greater than previous day’s level. More than 323 million shares worth SR10.5 billion changed hands on the Saudi stock market.
Saudi Kayan Petrochemical Company remained prominent among most active stocks, rising by 5.89 percent and capturing 8.3 percent of the overall market volume.
Wafrah for Industry & Development Co. pumped more liquidity into the market by contributing SR659.2 million, which is approximately six percent of the total turnover.