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Saudi- Insurance stocks suffer 3.942 losses
(MENAFN- Arab News) Saudi Arabia's benchmark Tadawul All-Share Index (TASI) passed through a lean session on Monday shedding more than 155 points or 1.74 percent.
The TASI fell to 8785.73 points ebbing down its year-to-date gains (app. +30 percent) to less than three percent.
All market cap indices finished to the downside with Small Cap falling 2.3 percent. The sectoral indices lost an aggregate of 2106 points. Insurance came out as major declining sector tumbling 3.94 percent to close the day at 1481.15. Petrochemical Industries and Agriculture sectors followed it decreasing more than two percent.
Al-Rajhi Bank and market leader SABIC (Saudi Basic Industries Corp.) showed excessive losses amongst big players dipping by 3.31 percent and 2.96 percent respectively.
However JabalOmar development company witnessed a positive change gaining 1.28 percent to SR 51.91.
The total number of falling stocks exceeded to the total number of rising stocks by a huge margin of 140 to 17. The Mediterranean and Gulf Insurance suffered worst of Saudi equities going down by SR5.18 or 9.8 percent for the day.
Amanah Cooperative Insurance dived to a fresh three-year low of SR13.85 before closing at SR13.94 down 4.85 percent.
On the other positive side new player Electrical Industries Company showed the best performance soaring up 9.70 percent to close at SR65. Saudi Cable Co. was another key gainer surging 8.55 percent and closing slightly above the par-value. The company also positioned itself among the most active stocks liquidating 6.2 million shares. Interestingly Cable volume went 7.6 times high over its 50-day average. Alinma Bank and Dar Alarkan Real Estate topped the volume chart each contributing less than nine percent market share.
Tadawul volume went down by 19.8 percent and traded 212.4 million shares as compared to previous day's 264.8 million shares. Equity turnover reached to SR6.57 billion a decrease of 13.5 percent over the 50-day average level.
The TASI fell to 8785.73 points ebbing down its year-to-date gains (app. +30 percent) to less than three percent.
All market cap indices finished to the downside with Small Cap falling 2.3 percent. The sectoral indices lost an aggregate of 2106 points. Insurance came out as major declining sector tumbling 3.94 percent to close the day at 1481.15. Petrochemical Industries and Agriculture sectors followed it decreasing more than two percent.
Al-Rajhi Bank and market leader SABIC (Saudi Basic Industries Corp.) showed excessive losses amongst big players dipping by 3.31 percent and 2.96 percent respectively.
However JabalOmar development company witnessed a positive change gaining 1.28 percent to SR 51.91.
The total number of falling stocks exceeded to the total number of rising stocks by a huge margin of 140 to 17. The Mediterranean and Gulf Insurance suffered worst of Saudi equities going down by SR5.18 or 9.8 percent for the day.
Amanah Cooperative Insurance dived to a fresh three-year low of SR13.85 before closing at SR13.94 down 4.85 percent.
On the other positive side new player Electrical Industries Company showed the best performance soaring up 9.70 percent to close at SR65. Saudi Cable Co. was another key gainer surging 8.55 percent and closing slightly above the par-value. The company also positioned itself among the most active stocks liquidating 6.2 million shares. Interestingly Cable volume went 7.6 times high over its 50-day average. Alinma Bank and Dar Alarkan Real Estate topped the volume chart each contributing less than nine percent market share.
Tadawul volume went down by 19.8 percent and traded 212.4 million shares as compared to previous day's 264.8 million shares. Equity turnover reached to SR6.57 billion a decrease of 13.5 percent over the 50-day average level.
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