Tadawul index continues fall

Saudi stock market sustained downward momentum yesterday as the Tadawul All-Share Index (TASI) lost further 12.34 points to close at 6,729.48 levels yesterday, down 0.18 percent over the close of the previous day. The TASI fell down earlier yesterday and crossed the level of opening bell during mid of the session but dipped again, reflecting narrow fluctuation (33 points) below the break-even line ended red. Only Large cap indices moved upward slightly. Eleven out of Tadawul's 15 sectors repeated the negative performance of previous day, trimming 323 points collectively. Insurance and Hotel & Tourism sectors continued to play worst, going down by 2.49 percent and 1.27 percent respectively. On the other hand, Energy & Utilities sector outperformed for the second straight day, advancing 1.95 percent further to close at 4,935.25. Etihad Etisalat Co. (Mobily) and Saudi Electricity Company made the biggest jumps among heavyweight equities, rising by 2.83 percent and 2.61 percent respectively. Both companies have also been able to occupy the place at top gainer chart, ranking second and third respectively. On the contrary, market leader SABIC (Saudi Basic Industries Corp.) suffered the greatest amount of damages, turning down 1.13 percent to close the day at SR 87.75. Market breadth with advance-decline ratio of 0.34:1 remained extremely weak. Surprisingly, Wataniya Insu-rance Company and Amana Cooperative Insurance with 9.9 percent positive-negative change, continued to top the gainer and loser charts for the second straight day. From :Arab News