Tadawul index inches higher

The Saudi stock market changed a little from earlier levels yesterday, as Tadawul index closed at 6,783.55 points, which was roughly where it started the day. The Tadawul All-Share Index (TASI) wavering in the green-red within a range of 39 points, closed just above the break-even line adding a nominal 5.46 points or 0.08 percent. Saudi sector indices performed in a mixed fashion, with eight sectors accumulating an aggregate of 191 points and seven sectors trimming 312 points collectively. Insurance sector continued its upward march, advancing 1.25 percent further. Cement, Petrochemical Industries and Media sectors followed it, rising by 0.9 percent for the day. On the negative side, Hotel & Tourism and Real Estate Development came out as worst performing sectors, going down more than one percent. The market breadth was weak, with 46 stocks witnessing advances and 89 others marking a decline. Saudi Arabia Fertilizers Co. (SAFCO) and market leader SABIC (Saudi Basic Industries Corp.) remained at top positions among heavyweight companies, rising 2.24 percent and 1.67 percent respectively. On the contrary, Kingdom Holding fell down to SR 17.2, showing a reduction of 1.44 percent. Insurance companies led the top gainer and loser charts at Tadawul. Wataniya Insurance Company and Amana Cooperative Insurance played well among all Saudi companies, marching higher by 9.96 percent and 7.71 percent respectively. Saudi Indian Company for Co-operative Insurance, on the other hand, switched its position from the top gainer of previous day to the biggest loser of the day, down SR 4.75 or 7.79 percent. From Arabnews