Tuesday, 21 November 2017 12:51 GMT
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Insurance stocks surge 2.82 percent

(MENAFN - Arab News) Saudi Arabia's benchmark Tadawul All-Share Index (TASI) continued a positive drive Sunday, advancing half percent further. While curving in the upward territory throughout the day it added 41.56 points, closing at 8,551.23 points. On an YTD basis, TASI registered a positive return of 25.73 percent. Micro cap with 1.2 percent positive change remained prominent among market cap indices. Eleven out of Tadawul's fifteen sectors closed up, reflecting a collection of 546 points. Insurance outdid rest of the sectors, surging 2.82 percent to close at 1,193.14. Hotel & Tourism sector followed it, increasing by 1.27 percent. Banking sector added considerable 210 points, up more than one percent. Most of heavyweights finished to the upside, with Saudi Telecom growing by 2.8 percent, SABB 2.75 percent and Riyad Bank 2.06 percent. The bellwether SABIC (Saudi Basic Industries Corp.) ended without any change but it topped the liquidity chart, pouring SR435.4 million into the market. While, Alinma Bank continued its most active status, liquidating over twenty five million shares and achieving a relative market share of 11.4 percent. More than 225 million shares worth SR 6.0 billion exchanged hands on the Saudi Stock Market. The 50-day average for trading volume is closer to 180 million shares. The advancers easily outnumbered declining stocks on the Tadawul; as for 64 percent stocks that gained, 22 percent ended lower and 14 percent remained unchanged. New player ANB Cooperative Insurance Company again made the biggest jump among all Saudi equities, achieving a maximum growth of 10 percent to SR34.1. An appreciation of 241 percent in the value of ANB has been recorded in 19 days. Malath Insurance and Saudi Re for Cooperative Reinsurance were other key players, showing a solid growth of 9.95 percent and 9.73 percent respectively.


Insurance stocks surge 2.82 percent

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