Tadawul: Tourism stocks drop 2.14%

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The Saudi stock market continued its downward spiral and recorded mild losses (-0.37 percent) Thursday.
Saudi Arabia’s benchmark stock index (TASI) closed lower to 7,634.3, shedding 28.66 points for the entire day. After falling over 108 points during the session, it bottomed out at 7,554.75 points level and started to rise again but ended below the break-even line.
On year-to-date basis, the TASI’s yield reached 12.25 percent.
The market cap indices all finished to the downside, with Micro cap falling more than one percent.
Most of the sector indices ended negatively, paring an aggregate of 742.6 points.
Tourism and Multi-Investment sectors showed the worst performance, slipping 2.14 percent and 1.53 percent respectively.
Only Energy and Telecom sectors moved upward, showing a collection of 15 points.
Samba Financial Group came out as significant player among heavyweight stocks, rising 0.4 percent for the day. On the contrary, Kingdom Holding suffered worst of heavyweights, declining nearly three percent.
The market breadth was largely negative, with 21 stocks witnessing advances and 117 others marking a decline.
The National Co. for Glass Industries and Alujain Corporation dominated the performance chart, surging by 3.59 percent and 2.56 percent respectively.
AXA Cooperative Insurance, on the other hand, posted the largest losses, going down by 5.47 percent to SR 36.3.
Tadawul turnover went down by 5 percent in terms of volume and 13 percent in terms of value.
Total volume set sold around 208 million shares, remaining slightly above the 50-day average level.
Alinma Bank continued its most active status, liquidating more than 28.7 million shares, which equates 13.8 percent of overall market volume.
But the bank finished its trading without any change.

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