Sunday, 22 October 2017 12:18 GMT
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Saudi- Real Estate sector up over 5% in a week

(MENAFN - Arab News) Saudi Arabia's benchmark stock index continued its upward march for the fourth straight week, advancing 0.14 percent further. Despite closing lower for three days during the week, the Tadawul All-Share Index (TASI) dug in at 7,623.89 and finished the week slightly up 10.54 points from its previous weekend close at 7,613.35 points. However, its weekly trading range narrowed to 112 points as compared to previous week's 267 points. On year-to-date basis, the index showed a collection of 822.67 points or 12.1 percent. Total market capitalization of Saudi stock exchange remained nearly unchanged from its previous level of SR 1.53 trillion. Among market cap indices only large cap went slightly downward for the week. Saudi Telecom Co., SABB and Samba Financial Group recorded the biggest losses amongst large caps, going down by 4.21 percent, 2.5 percent and 2.43 percent respectively. On the positive side, Kingdom Holding Co., and Riyad Bank managed for a weekly gain, surging by 5.88 percent and 1.21 percent respectively. Sector indices performed in a mixed fashion last week, with eight sectors accumulating an aggregate of 786.5 points and seven sectors paring 230 points collectively. Real Estate Development made the biggest jump among sectoral indices, posting a solid growth over five percent to 4,599.7. Multi-Investment and Tourism sectors followed it, advancing by 3.8 percent and 2.34 percent respectively. Weekly market breadth remained favorable as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 92 to 56. Allianz Saudi Fransi Cooperative Insurance outdid rest of the Saudi equities, marching higher by SR 13.75 or 18.46 percent to close the week at SR 88.25. While, Tabouk Cement showing excessive losses of 9.12 percent became the major decliner for the second consecutive week. Furthermore, upside-downside volume ratio of 3.9:1 remained positive. Dar Alarkan Real Estate, Mobile Telecommunications Company (Zain) and Emaar the Economic City remained significant advancers among the most active stocks, moving up by 7.65 percent, 5.67 percent and 5.08 percent respectively. Zain with a turnover of 199.4 million shares continued its most active status, achieving a relative market share of 15 percent. Most of the major benchmark indices at GCC stock markets ended the week in green, with Qatar Exchange rose over two percent. The benchmark GulfBase GCC General Index closed the week higher at 4,475.84 points level, adding roughly 8 points or 0.18 percent for the entire week.


Saudi- Real Estate sector up over 5% in a week