Tuesday, 26 September 2017 03:43 GMT

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Saudi stocks rise media sector surges over 3%

(MENAFN - Arab News) Saudi arabia's benchmark stock index (tasi) dug in at 9856.52 and ended its wednesday's trading up over 0.17 percent.

the index traded within a range of 48.3 points adding 17.66 points for the entire day.

on an ytd basis tasi registered a positive return of 1320.92 points or 15.48 percent.

all market cap indices ended the day in the safe area. most of the sector indices showed modest gains accumulating an aggregate of 675 points.

one of the best performing sectors was media and publishing which rose over 3 percent closing the day at 4660.61. transport sector followed it posting a growth of 2.68 percent.

on the other hand six sectors could not manage for gains shedding 202 points jointly. real estate development sector posted the largest losses declining more than one percent and trimming back the 7000-mark.

heavy weights closed in a mixed fashion where saudi telecom rose 2.81 percent and etihad etisalat co. (mobily) fell 1.95 percent for the day. again mobily showed an unusual trading activity as the company volume went approximately 12 times high over its 50-day average liquidating 10.7 million shares.

the market breadth was almost balanced with 70 issues witnessing advances against 71 issues recording declines.

tihama advertising & public relations company (+9.94 percent) and national agriculture development co. (+9.83 percent) showing notable gains became the top performers among all saudi stocks.

market activity was a little low for the day; specifically 232.6 million shares worth sr8.9 billion were liquidated at tadawul. this turnover reflects a daily decrease of 15.6 percent on volume basis and 10.4 percent in terms of liquidity.

alinma bank appeared to be the most active stock of the day liquidating 21.8 million shares which equates 9.4 percent of overall market volume. five saudi stocks including petrochem (+2.94 percent) hit new all-time high levels.


Saudi stocks rise media sector surges over 3%

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