Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi Tadawul volume rockets to 1.1bn shares  Join our daily free Newsletter

MENAFN - Arab News - 20/03/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) Tadawul showed a record over and over again as its volume rocketed to a new high of 1.1 billion shares yesterday, surpassing previous day's 878.5 million shares.

Bulls continued to pump more and more liquidity, which rose to a significant level of SR21.6 billion, up 20 percent over the previous day.

Most of the trading was concentrated in Mobile Telecommuni-cations-ZAIN, Alinma Bank and Dar Alarkan Real Estate Development, which collectively contributed about half of the Tadawul's total volume.

Commenting on the Tadawul's massive turnover, Basil Kabbani of Zughaibi & Kabbani Financial Consultants, said: "Buying interest in Saudi companies which are trading near their par value actually caused to a substantial increase in Tadawul's turnover".

Perhaps, bulls' intention is to drive prices of these stocks to the actual levels and to increase the margin as well, he added.

The Saudi stock market (Tadawul) retreated to 7,616.01 on Monday, which was roughly where it started the day.

The Tadawul All-Share Index (TASI) while reflecting large intra-day spikes added nominal 0.32 points to close in the green territory.

One of the best performing sectors was Real Estate Development which rose to 3.13 percent for the third consecutive day on Monday with Dar Alarkan Real Estate Development jumped 6.13 percent. On the worst side, Insurance and Retail sectors pared 134.11 points or 1.55 percent for the day.

Heavy weights closed in mixed fashion, where Kingdom Holding Co. soared up 4.4 percent. On the other hand, Riyad Bank and Saudi Arabia Fertilizers Co. (SAFCO) went down by 1.12 percent 1.08 percent respectively.

Takween Advanced Industries and Alinma Bank performed well amongst all Saudi stocks and remained as top gainers of the day with 9.8 percent growth.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help