Tadawul shows 0.68 percent downfall

The Tadawul All-Share Index (TASI) extended its stay in the red zone for the fourth straight day, reflecting 0.68 percent downfall yesterday. The TASI set out positively (20 points) yesterday, but suddenly went downward spending rest of the session in the red territory closed lower to 7,057.01, paring 48.51 points for the entire day. Micro cap declined more than 1.5 (one and a half) percent among the market cap indices. All sector indices at Saudi stock market closed in red, trimming an aggregate of 714.3 points. Multi-Investment, Hotel & Tourism and Industrial Investment sectors were major decliners, shedding 2.17 percent, 1.96 percent and 1.54 percent respectively. Energy & Utilities sector suffered least losses comparatively, down 0.07 percent to close at 4,776.61 points. Most of heavy weights closed in the downward region with Kingdom Holding continuing its descending travel for the third consecutive day, going down by 3.23 percent further. Etihad Etisalat Co. (Mobily), SABB and market leader SABIC (Saudi Basic Industries Corp.) followed it, declining more than one percent for the day. Only Saudi Arabia Fertilizers Co. (SAFCO) closed in green, showing a 0.8 percent daily growth to SR 188.5. The market breadth was largely negative with 123 stocks witnessing declines against 17 stocks registering advances and the prices of 14 companies remained unchanged. Allianz Saudi Fransi repeated the worst performance of previous day, topping the decliner chart with 9.88 percent negative change. Dar Alarkan Real Estate appeared to be the most active stock of the day, which liquidated more than 25.8 million shares, capturing 13.7 percent of the overall market volume. Arabnews