Saturday, September 26, 2020
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Tourism, media sectors dominate Saudi market

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) dug in at 8,334.31 points on Monday.
The index wavering along the break-even line took a sharp uplift just before the closing bell, gaining more than 33 points or 0.4 percent. Its trading range expanded 2 points more than previous day’s 46.8 points.
On year-to-date basis, the TASI’s yield reached 22.54 percent. Large cap with 0.53 percent upward jump remained prominent among market cap indices.
All sectors extended gains except Cement and Retail, which showed less than half percent downward fall. Remaining 13 sectors accumulated an aggregate of 548.2 points.
Tourism and media were major gainers among sectoral indices, which marginally increased by 1.32 percent and 1.02 percent respectively. Banks & Financial Services sector added considerable 123.6 points, up 0.7 percent.
Advancing stocks outnumbered decliners by a margin of 85 to 45 and the prices of 28 companies remained unchanged.
Among all Saudi stocks, new player ANB Cooperative Insurance Company reflecting notable gains of 9.93 percent became the top performer for the fifth straight day.
Al-Rajhi Bank showed the best performance among heavyweight stocks, advancing exactly one percent to SR 75.5. The market leader SABIC (Saudi Basic Industries Corp.) closed up 0.46 percent to SR108.75.
Market activity was high as compared to previous day but still it remained below the 50-day average level. More than 166 million shares worth SR4.2 billion changed hands on the Saudi stock market.
Trading activity was led by Alinma Bank, which represented a one-fourth relative market share in terms of volume and 14.3 percent in terms of liquidity. All most active stocks finished to the upside.