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MENAFN - Arab News - 13/10/2012

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(MENAFN - Arab News) The Tadawul All-Share Index (TASI) while reflecting a 3-day fall during the week, closed at 6,796.99 points last week, shedding 90.30 points or 1.31 percent for the entire week.

However, its weekly trading range expanded slightly to 176.97 points as compared to previous week's 123.39 points. TASI's year-to-date gains reduced to 379.26 points or 5.91 percent.

The market capitalization of Saudi stock exchange reached to SR 1.37 trillion, decreasing by 1.23 percent from the previous week's value. All market cap indices ended the week in the downward territory.

Overall weekly performance of sectoral indices remained negative as all closed in red except Telecommunication & Information Technology, which advanced 1.83 percent to close at 2,081.38. Rest of the 14 sectors trimmed more than 1,175 points for the week.

Multi-Investment sector delivered a largely negative performance, slipping 5.6 percent to close the week at 3,212.95. Insurance and Agriculture sectors followed it, declining by 3.06 percent and 2.93 percent respectively.

Among heavyweight stocks, Saudi Telecom Co. continued its upward march for the second straight week, surging 6.45 percent further.

Kingdom Holding, on the other hand, lost a major portion of its previous week's gains, going down by 4.41 percent.

Market breadth was negative as only 40 Saudi companies were able to manage a gain for the week.

Arabian Shield Cooperative Insurance Co. turned in a splendid performance among all Saudi stocks, soaring up 30.85 percent to close the week at SR 49.2. On the other side of the spectrum, Amanah Cooperative Insurance continued its downward fall for the second consecutive week, declining by 24.6 percent further.

During the week, share trading activity remained low as Tadawul volume reached to 819.1 million shares, a 12.2 percent decrease over previous week's volume. Furthermore, upside-downside volume ratio of 0.4:1 remained nearly unchanged.

Most of the major benchmark indices at GCC stock markets ended the week in red.

The benchmark GulfBase GCC General Index also closed the week lower at 3,910.23 points level, dropping roughly 28 points or 0.71 percent for the entire week.


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