Saudi- Insurance sector dominates Tadawul trading; index rises 

(MENAFN - Arab News) The Tadawul All-Share Index (TASI) closed at 6,831.56 points on Monday, up 28.62 points at a growth rate of 0.42 percent over the close of the previous day. On an YTD basis TASI registered a positive return of 6.45 percent.

Nineteen Saudi stocks, including Monday's top gainers Sanad Insurance & Reinsurance Cooperative Company and Al-Alamiya for Cooperative Insurance Co., rose to their 52-week highs.

Insurance sector dominated Monday's trading activity as its relative market share was 26.9 percent in terms of value, 16.8 percent in terms of volume and 34.5 percent in terms of executed transactions.

The Media and Publishing sector increased by 2.5 percent to 2,341.51 points, reflecting a new high since Sept. 21, 2008. It was followed by Multi-Investment sector which showed a growth of 1.9 percent to close at 3,451.52, highest level since Sept. 7, 2008.

Share trading activity remained low on Monday as compared to previous day; turnover went down by 5.8 percent in terms of volume and 7.2 percent in terms of value. While, the number of executed transactions reached 170,100 trades, a decline of 8.1 percent. The heavyweight SABIC (Saudi Basic Industries Corp.) secured its position as the most active stock on value basis, reflecting a turnover of SR385.4 million. Alinma Bank was the most active stock on volume basis which recorded a turnover of 30.5 million shares.

The value of traded shares exceeded SR8 billion on Monday.

The market breadth was positive with 97 stocks witnessing advances against 35 stocks witnessing declines and prices of 17 companies remained unchanged.

Insurance stocks were among the top gainers, with Sanad and Al-Alamiya, rising 9.9 percent.

Knowledge Economic City switched its position from top gainer of previous day to the biggest loser of the day, down 3.86 percent.