Multi-investment sector plunges 2%; TASI drops

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Saudi Arabia’s benchmark stock index marked a nominal decline of 0.05 percent on Monday.

The Tadawul All-Share Index (TASI) bouncing between green-red within a low range of 36 points ended nearly 4.5 points lower to 9,808.04. On year-to-date basis, the index showed a collection of 1,272.44 points or 14.91 percent.

Among the market cap indices, Small cap performed well relatively, advancing 0.93 percent for the day. Sectoral performance remained mixed, with nine sectors gaining 364 points and six sectors trimming 277 points collectively.

Construction and Agriculture sectors showed the best performance, growing more than one percent.
On the worst side, Multi-investment sector plunged by two percent, trimming back the 5,000-mark.
Most of heavyweights finished to the downside, with Kingdom Holding dipping by 2.85 percent and market leader SABIC (Saudi Basic Industries Corp.) 2.2 percent.

The market breadth was positive, with 81 stocks witnessing advances and 56 others marking a decline.
The Saudia Dairy and Foodstuff Co. (SADAFCO) dominated the performance among all Saudi equities, topping the gainer chart with 9.85 percent positive change.

Aldrees Petroleum Co. was another significant advancer, rising by 5.32 percent. Saudi Ceramics Co. shares hit an all-time high of SR146.5, gaining 2.64 percent for the day.

On the other side of the spectrum, Al Ahlia Insurance Co. became the biggest loser of the day, down 3.62 percent.

Market activity improved further but still remained below the level of 50-day average, ranging from 27 percent
to 32 percent. More than 192 million shares worth SR6.6 billion changed hands on the Saudi stock market.

Mobile Telecommuni-cations Company (Zain) with 36.7 million shares topped the volume chart, capturing 19 percent of the overall market volume. Fawaz Abdulaziz Al Hokair led the value chart, pumping SR506 million.
Al Hokair shares also raced to an all-time high of SR219.5 but ended in red.

 
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