Saudi- Investors maintain heavy liquidity at Tadawul 

(MENAFN - Arab News) The Saudi stock market after suffering a dip during the week continued to trade strong yesterday. The Tadawul All-Share Index (TASI) added further 21.62 points to close at 7,540.27 levels on Wednesday, up 0.29 percent over the previous close.

All sectors performed in a mixed fashion with seven sectors accumulated 505.88 points and eight sectors lost 374.19 points.

Petrochemical Industries sector advanced 2.55 percent over the day, posting the biggest gains among all sectors.

On the other hand, Real Estate Development continued to perform worst for the second consecutive day on Wednesday, dipped by 2.26 percent.

Most of heavy weights closed in green; where market leader SABIC (Saudi Basic Industries Corp.), Saudi Electricity Co. and Saudi Arabian Fertilizers Co. - SAFCO all surged by 1.2 percent for the day.

Furthermore, Kingdom Holding Co. with 1.2 percent decrease continued to drop for the second consecutive day.

The trading activity levels remained about the same as of Tuesday. Investors' confidence was high as they maintained a heavy flow of liquidity SR18.1 billion with trades of over 890.5 million shares.

Mobile Telecommunications Company (Zain) occupied the first position with regards to the number of shares traded. It reached 183.6 million shares, reflecting 21 percent market share.

On the other hand, Saudi Kayan with SR2.9 billion expanded 16 percent liquidity at Tadawul and remained most active stock on value basis.

The market breadth was slightly weak with 72 stocks witnessing declines against 62 stocks witnessing advances.

Saudi Industrial Development Co. and Anaam International Holding Group dominated the top gainers chart, soared up 9.96 and 7.61 percent respectively.

On the worst side, Saudi Integrated Telecom came out as the biggest loser among all Saudi stocks, tumbled 10 percent to close at SR42.30.