Tourism sector continues to fall in Saudi stock market



The Saudi stock market continued its negative movement, marking another small decline of 0.05 percent yesterday.
Saudi Arabia’s benchmark stock index bouncing between green-red within a low range of 26.2 points ended nearly four points lower to 7,770.45.
Micro Cap performed worst among the market cap indices, going down 0.62 percent.
Sectoral performance remained mixed, with eight sectors gaining nearly 155 points and seven sectors trimming 488 points collectively.
Transport sector came out at top and posted 1.4 percent positive change, closing at 5,104.43.
On the other hand, Hotel & Tourism sector continued its downward fall for the third consecutive session, declining 2.2 percent to 13,341.36.
Most of heavyweights finished to the downside, with Al Rajhi Bank dipping by 0.67 percent, Kingdom Holding 0.56 percent and Saudi Telecom exactly half percent.
The market breadth with advance-decline ratio of 0.46:1 remained unfavorable.
New player Aljazira Takaful Taawuni Company again made the biggest jump among all Saudi equities, soaring up 9.93 percent to close the day at SR 16.05. Saudi Public Transport Co. was another significant advancer, jumping 7.76 percent for the day. The company with trades over 21.7 million shares also positioned itself among the most active stocks, and ranking second.
On the other side of the spectrum, Gulf Union Insurance topped the decliner chart for the second consecutive day, closing lower 7.3 percent further.
Share trading activity remained low yesterday, as Tadawul volume set sold approximately 180 million shares, a decrease of roughly five percent as compared to previous level and 23.9 percent below the 50-day average of 236.4 million shares.
Liquidity also shrank to SR 4.6 billion, 17.6 percent lower than the 50-day average of SR 5.6 billion.


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