Sunday, August 9, 2020
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TADAWUL: Telecom sector index surges 0.78%

The benchmark Tadawul All-Share Index (TASI) bouncing between green-red within a low range of 28 points dug in at 9,449.92 and ended its Wednesday’s trading up nearly 16 points.
It was fourth consecutive win of the market, adding up 10.7 percent in almost three months.
All market cap indices ended in the safe area. Saudi sector indices performed in a mixed fashion as six sectors’ reduction of 190.8 points being offset by nine sectors’ accumulation of 189.1 points.
Telecommunication & Information Technology was major gainer among sectoral indices, which increased by 0.78 percent to close the day at 3,032.93. Cement was another significant gaining sector, growing exactly half percent.
On the other hand, Hotel & Tourism switched to worst performing sector, going down nearly 80 points or 0.38 percent.
The market breadth with advance-decline ratio of 1.5:1 remained favorable. Seven Saudi companies including Tihama Advertising and BUDGET have achieved more than hundred percent price appreciations in one year.
Saudi Transport and Investment Company (Mubarrad) and Al-Rajhi Insurance remained at top positions among all Saudi equities, surging 6.3 percent and 3.9 percent respectively.
Mubarrad volume (Six million shares) remained 384.5 greater than previous day. While, Al-Rajhi volume went 7.7 times high over the 50-day avg, liquidating 1.6 million shares to SR42.5.
Saudi Indian Company for Co-operative Insurance, on the contrary, continued its downward fall, reducing further by SR10 or 9.98 percent to SR90.25. The company trimmed 34.1 percent in five consecutive sessions.
Market activity remained roughly 7 percent greater than previous day’s level. More than 268 million shares worth SR7.3 billion changed hands on the Saudi stock market.