Arab Today, arab today market cap falls to sr 135 trillion
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

Market cap falls to SR 1.35 trillion

Arab Today, arab today

Arab Today, arab today Market cap falls to SR 1.35 trillion

Jeddah - Arabstoday

The Tadawul All-Share Index (TASI), while reflecting a 5-day fall during the week, closed at 6,609.7 points last week, shedding 207.23 points or 3.04 percent for the entire week. The index making lower support levels plunged to a maximum of 215 points during the week. TASI\'s year-to-date gains shrank to three percent merely. The market capitalization of Saudi stock exchange reached to SR 1.35 trillion, decreasing by 2.81 percent from the previous week\'s value. All market cap indices ended the week in the downward territory. Overall weekly performance of sectoral indices remained negative as all closed in red except Transport, which advanced 0.83 percent to 4,630.93. Rest of the 14 sectors trimmed more than 2,100 points for the week. Real Estate Development and Agriculture sectors suffered the greatest amount of damages, turning down more than four percent in a week. Top ten heavyweights fell down for the second consecutive week, with Samba Financial Group dipping by 6.18 percent, SABB 4.52 percent and Saudi Arabia Fertilizers Co. (SAFCO) 3.76 percent. However, Saudi Electricity Co. closed the week without any change. Market breadth was unfavorable, as out of 155 stocks traded last week only 11 were able to manage a gain for the week. Furthermore, upside-downside volume ratio of 0.1:1 remained largely negative. Insurance companies led the weekly top gainer and loser charts at Tadawul, with Alalamiya Cooperative Insurance and ACE Arabia Cooperative Insurance, offsetting their performance by more than 16 percent positive-negative change. Weekly volume chart was led by Dar Al-Arkan Real Estate with trades of over 84 million shares. While, SABIC (Saudi Basic Industries Corp.) occupied the first position in term of value, reflecting a turnover of SR 2.5 billion. Most of the major benchmark indices at GCC stock markets ended the week in red. However, Kuwait Stock Exchange continued its upward march, rising one and half percent further. The benchmark GulfBase GCC General Index also closed the week lower at 3,847.91 points level, dropping nearly 53.62 points or 1.37 percent for the entire week. Arabnews

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