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MENAFN - Arab News - 22/08/2014
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(MENAFN - Arab News) The Saudi stock market continued its positive movement and managed a fourth straight rise on Wednesday accumulating more than 56 points.

The Tadawul All-Share Index (TASI) set out with 5.6 points fall but subsequent trading sent it higher to close at 10716.24 points adding 0.53 percent for the entire day.

Large cap remained prominent posting a growth of 0.8 percent. Ten out of Tadawul's 15 sectors closed the day up reflecting a collection of 670 points. Agriculture & Food Industries made the biggest jump posting a reasonable growth of 1.3 percent to 12788.05.

Banks & Financial Services sector followed it advancing more than one percent. Most of heavyweights extended gains where Riyad Bank surging by 4.31 percent and Saudi British Bank 3.46 percent.

On the worst side Insurance sector logged the largest losses falling more than one percent to close at 1476.33.

Advancing stocks outnumbered decliners by a margin of 75 to 65 and the prices of 22 companies remained unchanged.

Al-Jouf Agriculture Development Co. (9.31 percent) and Filing and Packing Materials Manufacturing Co. (6.17 percent) showing notable gains became the top performers among all Saudi stocks.

FIPCO appeared to be the most liquid stock for the day pumping SR720 million into the market. Qassim Agriculture Co. topped the volume chart and liquidated 27.6 million shares but finished to the downside. Interestingly the company volume went 19.6 times high over its 50-day average.

Share trading activity remained high as compared to previous day; turnover went up by 10 percent on volume basis and 11 percent in terms of liquidity.

More than 284 million shares worth SR10.8 billion were liquidated at Tadawul.


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