(MENAFN - Arab News) The Saudi stock market turned green last week, recovering a few points from the previous week's losses.
The Tadawul All-Share Index (TASI) ended the week in the green at 6,811.19 points, up 14.2 points or 0.21 percent, from its previous weekend close at 6,796.99 points. Its weekly trading range expanded 3 points more as compared to previous week's 176.97 points.
On year-to-date basis, the index showed a collection of nearly 393.46 points or 6.13 percent.
The market capitalization of Saudi stock exchange increased slightly (0.93 percent), surpassing the previous week's level of SR 1.36 trillion. For the week, only Micro Cap indices went downward slightly.
Sector indices at Saudi stock market ended the week with modest gains, as 11 out of 15 sectors marched higher, accumulating an aggregate of 610 points in a week.
Insurance sector turned in a splendid performance among sectoral indices, reflecting an increment of 4.41 percent for the entire week to close at 1,476.01. Agriculture & Food industries followed it, advancing 1.94 percent for the week.
Seven out of top 10 heavyweights ended the week in green, with Kingdom Holding recovering entire loss of previous week, rising by 5.67 percent to close the week at SR 14.9.
Weekly market breadth remained slightly negative, whereby 64 symbols closed in green and 81 closed in red, while 10 remained unchanged. However, upside-downside volume ratio of 1.5:1 remained positive.
City Cement Co. started shares trading on Tadawul with opening price of SR 19.00 and closed at SR 17.45 on weekend. The stock posted a gain of 74.5 percent from its IPO price of SR 10.
It also dominated the weekly trading activity by liquidating more than 191.9 million shares, which equates 17.7 percent of overall market volume. The value of these shares totaled SR 3.4 billion, a relative market share of 12 percent.
After a gap of two weeks, Amanah Cooperative Insurance regained its topping position among all Saudi equities, surging by 31.55 percent to close the week at SR 246.
Tadawul weekly turnover improved by 32.4 percent on volume basis, 16.1 percent on value basis and 78.4 percent in terms of executed transactions. More than one billion shares worth SR 28.3 billion changed hands on the Saudi stock market.
Most of the major benchmark indices at GCC stock markets ended the week in green.
The benchmark GulfBase GCC General Index closed the week higher at 3,915.22 points level, adding 4.99 points or 0.13 percent for the entire week.
