Saudi stocks index turns downward slightly


The Saudi stock market was in the red, reversing after a 3-day surge and dropping a small percentage of 0.06 percent.
Saudi Arabia’s benchmark stock index bouncing between green-red within a low range of 33.86 points ended nearly four and half points lower to 7,910.66.
The market cap indices ended the day in mixed territories.
Sectoral performance also remained mixed, with seven sectors gaining nearly 390 points and eight sectors trimming 203.6 points collectively
Energy & Utilities sector outdid rest of the sectors, posting 1.71 percent positive change and closing at 4,846.39. Tourism and Insurance sectors followed it, advancing 1.58 percent and 1.3 percent respectively.
Real Estate Development, on the other hand, recorded the biggest losses, going down by 1.27 percent.
Top ten market cap companies reflected small variations from previous day’s level.
Saudi Electricity Co. (SECO) and SABB came out as significant players among heavyweights, offsetting their performance upto 1.9 percent positive-negative change.
The market breadth with advance-decline ratio of 1.05:1 remained slightly favorable.
New player Aljazira Takaful Taawuni Company continued its upward march in a consecutive manner, jumping 9.82 percent further to close the day at SR 25.7.
An appreciation of nearly 157 percent in the value of Aljazira has been recorded in ten consecutive sessions.
Alinma Bank appeared to be the most active stock of the day, liquidating 48.4 million shares, which equates 18.2 percent of overall market volume. The value of these shares totaled SR 721.7 million, a relative market share of 13.4 percent.
Tadawul total volume set sold approximately 266 million shares, an increase of 17.2 percent over the 50-day average level.



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