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Saudi- Transport sector posts solid gains
(MENAFN- Arab News) Saudi Arabia's benchmark Tadawul Index advanced further from earlier levels to 8950.11 on Thursday.
The index curving in the upward territory added 98.28 points or 1.11 percent for the entire session.
On an YTD basis TASI registered a positive return of 7.4 percent.
Med cap outdid rest of the market cap indices up 1.19 percent the GulfBase said in its market commentary.
Sectoral performance was positive with fourteen sectors accumulating an aggregate of 1855 points.
Transport sector turned in a splendid performance soaring up 7.45 percent and crossing 9000-points mark.
Retail and Real Estate Development sectors followed it moving up by 2.62 percent and 1.69 percent respectively.
Most of heavy weights closed in green; where National Commercial Bank surging by 3.49 percent Jabal Omar Development Co. 1.96 percent and market leader SABIC (Saudi Basic Industries Corp.) 1.42 percent.
The market breadth confirmed a bullish momentum as out of 162 stocks traded Thursday only 24 could not manage for gains.
The National Shipping Co. (BAHRI) remained at top position among all Saudi equities advancing 9.79 percent to SR 45.5.
Perhaps buying intensified after the news that BAHRI had recorded substantial quarterly gains. It declared a net profit of SR 398.98 million for the 1st quarter of the year 2015 representing an impressive growth of 104 percent.
Jarir Marketing Co. hitting a fresh all-time high of SR 232 finally closed at SR 230.89 up 4.37 percent for the day.
Share trading activity was low on Thursday as Tadawul volume set sold approximately 291 million shares a decrease of 23.6 percent as compared to previous level and 16.4 percent below the 50-day average of 348.7 million shares.
Liquidity also reduced to SR7.1 billion 21.7 percent lower than the 50-day average of SR 9.1 billion.
Dar Alarkan with trades over 45 million shares topped the volume chart capturing 15.6 percent of the overall market volume.
The index curving in the upward territory added 98.28 points or 1.11 percent for the entire session.
On an YTD basis TASI registered a positive return of 7.4 percent.
Med cap outdid rest of the market cap indices up 1.19 percent the GulfBase said in its market commentary.
Sectoral performance was positive with fourteen sectors accumulating an aggregate of 1855 points.
Transport sector turned in a splendid performance soaring up 7.45 percent and crossing 9000-points mark.
Retail and Real Estate Development sectors followed it moving up by 2.62 percent and 1.69 percent respectively.
Most of heavy weights closed in green; where National Commercial Bank surging by 3.49 percent Jabal Omar Development Co. 1.96 percent and market leader SABIC (Saudi Basic Industries Corp.) 1.42 percent.
The market breadth confirmed a bullish momentum as out of 162 stocks traded Thursday only 24 could not manage for gains.
The National Shipping Co. (BAHRI) remained at top position among all Saudi equities advancing 9.79 percent to SR 45.5.
Perhaps buying intensified after the news that BAHRI had recorded substantial quarterly gains. It declared a net profit of SR 398.98 million for the 1st quarter of the year 2015 representing an impressive growth of 104 percent.
Jarir Marketing Co. hitting a fresh all-time high of SR 232 finally closed at SR 230.89 up 4.37 percent for the day.
Share trading activity was low on Thursday as Tadawul volume set sold approximately 291 million shares a decrease of 23.6 percent as compared to previous level and 16.4 percent below the 50-day average of 348.7 million shares.
Liquidity also reduced to SR7.1 billion 21.7 percent lower than the 50-day average of SR 9.1 billion.
Dar Alarkan with trades over 45 million shares topped the volume chart capturing 15.6 percent of the overall market volume.
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