Saudi stock market continued its negative movement and fell for a fourth consecutive session on Wednesday. The magnitude of losses is small but going on in a consistent manner.
The Tadawul All-Share Index (TASI) ended lower at 9,318.63, trimming 0.14 percent or 13 points for the entire session. The index performed within a range of 61 points; reducing its year-to-date (YTD) 2014 gains slightly to 9.17 percent.
Among market cap indices only Small cap was able to close a little higher. Again sectoral performance remained almost balanced with seven sectors moving upward and accumulating nearly 769 points.
Media and Tourism sectors continued to march upward, showing a further positive change of 5.08 percent and 2.23 percent respectively. Tourism sector also surpassed 20,000-mark, closing at 20,313.90.
Transport was another significant gaining sector which grew 1.57 percent to 7,291.37. On the other hand, eight sectors lost an aggregate of 190.3 points. Telecommunication & Information Technology sector posted the largest losses, falling 0.63 percent to close at 2,958.71.
Etihad Atheeb Telecom suffered worst of all companies, turning down 5.53 percent and closing at SR16.25.
Top ten heavyweights also closed lower from previous day’s level, where SABB dipping by 2.1 percent and Saudi Telecom Co. 1.1 percent.
Only market leader SABIC (Saudi Basic Industries Corp.) rose 0.21 percent to close the day at SR115.5.
Decliners outnumbered the advancers by a margin of 84 to 56 and the prices of 19 companies remained unchanged.
Tihama Advertising & Public Relations Co. again made the biggest jump among all Saudi equities, soaring up 9.98 percent further to SR181.75.
Market activity was a little low for the day; specifically 267.7 million shares worth SR7.4 billion were liquidated at Tadawul. This turnover reflects a daily decrease of 22.9 percent on volume basis and 17.2 percent in terms of liquidity.