Tadawul Index up but volume falls

The Tadawul All-Share index (TASI) ended yesterday's trading in the green at 7,104.5 points, up 17.70 points or 0.25 percent, from its previous day close at 7,086.8 points. The trading range expanded slightly to 37 points as compared to 29 points of previous day. Sectoral performance was positive, as 11 out of 15 sectors closed in upward territory, accumulating an aggregate of 192 points. Multi-Investment and Petrochemical Industries were major gainers among sectoral indices, which marginally increased by 0.85 percent and 0.68 percent respectively. While, four sectors went slightly down, trimming 85 points jointly. Insurance and Media sectors became the worst performers, showing a decrease of 1.58 percent and 1.07 percent respectively. Market breadth was also positive, whereby 70 symbols closed in green and 61 closed in red, while 23 remained unchanged. Seven out of top 10 heavy weight stocks also ended in the green, while, three including Al-Rajhi Bank ended without any change. Kingdom Holding and market leader SABIC (Saudi Basic Industries Corp.) outperformed among heavy weights, surging 1.32 percent and 1.09 percent respectively. Among all Saudi companies, Allianz Saudi Fransi continued to play well for the second straight day, advancing by 7.2 percent for the day. Amana Cooperative Insurance, on the other hand, shifted its position from top gainer chart of previous day to decliner chart of the day, posting the largest losses of 9.98 percent to close at SR 205.25. Share trading activity remained low yesterday, as Tadawul volume went down further to 192.5 million shares, a decline of 30 percent roughly over the 50-day average level. From : Arabnews