Tadawul crosses 6500-point mark

It turned out to be largely positive for investors yesterday, as the Tadawul All-Share Index (TASI) crossed the 6,500-mark during the day to close higher at 6,533.14 points, up 70.67 points or 1.09 percent from its previous close. While curving in the upward territory throughout the day it rose to a maximum gain of 88 points. All market cap indices ended the day in the upward zone. Fourteen out of Tadawul's 15 sectors ended the day with modest gains, accumulating more than 800 points collectively. Only Energy & Utilities sector ended without any change. Insurance, Transport and Telecom were major gainers among sectoral indices, which marginally increased by 2.91 percent, 2.57 percent and 2.15 percent respectively. Banking sector added considerable 160 points, up 1.12 percent. The advancers easily outnumbered declining stocks on the Tadawul (market); as for 79 percent stocks that gained, 11 percent ended lower and 10 percent remained unchanged. Insurance stocks won the yesterday's race at Tadawul. The share price of Amanah Cooperative Insurance rallied to a maximum growth of 9.98 percent, closing the day at SR 159.75. Alinma Tokio Marine followed it, surging 6.82 percent for the day. Most of the major heavy weights marched higher from previous day's level, with Etihad Etisalat Co. (Mobily) surging by 2.85 percent, Samba Financial Group 1.83 percent and Kingdom Holding 1.77 percent. From : Arabnews