Saudi- Telecom and tourism sectors dominate trading

(MENAFN- Arab News) The Tadawul All-Share Index (TASI) moved into the green territory earlier yesterday and closed higher to 7,972.11, adding 61.45 points or 0.78 percent for the entire session. While curving in the upward territory throughout the day it rose to a maximum gain of 67.6 points. TASI also logged a healthy YTD return of 17.2 percent. The market cap indices all finished to the upside. Large cap performed well relatively, advancing more than one percent. Sectoral performance was tremendous, as all sectors closed in green and accumulated an aggregate of nearly 855 points. The telecom and tourism sectors were major gainers, which marginally increased by 2.13 percent and 1.73 percent respectively. Most of heavyweights extended gains, with Etihad Etisalat Co. (Mobily) rising by 2.38 percent, Saudi Telecom 1.98 percent and Kingdom holding 1.69 percent. Most active stocks also showed a positive change, with Emaar the Economic City increasing by 5.82 percent, Atheeb Telecom 3.6 percent and Dar Alarkan Real Estate 2.35 percent. Dar Alarkan remained most active stock of the day, liquidating roughly 44 million shares and capturing 18.5 percent of the overall market volume. Tadawul volume went slightly down by 10.57 percent and traded 238 million shares as compared to previous day's 266 million shares. But still it was 4.8 percent greater than 50-day average of 227 million shares. The market breadth was strong for the day as 101 stocks witnessing advances and other 30 stocks marking a decline. New player Aljazira Takaful Taawuni Company again made the biggest jump among all Saudi equities, soaring up 9.73 percent to close the day at SR 28.2. An appreciation of nearly 182 percent in the value of Aljazira has been recorded in 11 consecutive sessions.