Tadawul index, volume decline

The Saudi stock market recorded mild losses yesterday, as the Tadawul All-Share Index (TASI) while descending throughout the day, closed lower at 7,090.9, trimming 43.34 points or 0.61 percent for the day. The TASI traded within a range of 48 points yesterday. Most of the sector indices ended negatively, with twelve sectors paring an aggregate of 420 points for the day. In turn, Insurance, Industrial Investment and Building & Construction sectors have been unharmed by the day's trading, showing a collection of 47.3 points jointly. Multi-Investment sector came out as the biggest loser of the day, down by 1.69 percent or 57.13 points to close at 3329.27. Petrochemical Industries followed it, declining by 1.1 percent for the day. The market breadth was negative with 82 stocks witnessing declines against 59 stocks witnessing advances and 13 stocks remained unchanged. Top ten heavy weights closed in red, with the Kingdom Holding lost (-3.23 percent) a major portion of its previous day's gains. Samba Financial Group, the bellwether SABIC (Saudi Basic Industries Corp.) and SABB followed it, showing more than one percent negative change. The gainers and losers charts were topped by the insurance stocks. Share price of Saudi Fransi Cooperative Insurance rallied to a maximum growth of 10 percent to close the day at SR 93.50. Amana Cooperative Insurance, on the other hand, posted the largest losses, falling 4.29 percent for the day. Share trading activity remained low yesterday, as Tadawul volume went down by 24 percent to reach the level of 226.8 million shares. Arabnews