Sunday, October 25, 2020
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TADAWUL: Industrial Investment sector advances 1.39%

Saudi Stocks showed narrow fluctuations Wednesday, as the Tadawul All-Share Index (TASI) with a positive change of 2.19 points remained almost flat.
The index wavering in the green-red within a range of 43.58 points, closed just above the break-even line adding a nominal 0.03 percent to 8,300.65.
Among market cap indices only Large cap went slightly downward. Sectoral performance was positive, with nine sectors accumulating an aggregate of 400 points.
Industrial Investment outdid rest of the sectors, advancing 1.39 percent to close at 6,695.8. Hotel & Tourism was another key gaining sector, growing more than one percent to cross 15,000-mark.
On the negative side, Cement sector continued its downward fall, marking another decline of 0.82 percent.
The Kingdom Holding and market leader SABIC (Saudi Basic Industries Corp.) came out as significant players among heavyweights, offsetting their performance by 0.68 percent positive-negative change.
The market breadth was positive, with 72 stocks witnessing advances and 61 others marking a decline.
New player ANB Cooperative Insurance Company again made the biggest jump among all Saudi equities, achieving a maximum growth of 10 percent to SR12.1. Bank Albilad and Mouwasat Medical Services Company followed it, surging by 5.92 percent and 4.44 percent respectively.
Alinma Bank appeared to be the most active stock for the day, liquidating 20.5 million shares, which equates 15.7 percent of overall market volume. The value of these shares totaled SR297.5 million, a relative market share of 8.1 percent.
Share trading began to taper off, as Tadawul volume set sold approximately 131 million shares, a decrease of 21.4 percent as compared to previous level. The volume also remained 31.6 percent below the 50-day average of 191.7 million shares.
Turnover also reduced to SR3.7 billion, 27 percent lower than the 50-day average of SR5.0 billion.