Saudi- Insurance shares fall as key index sheds 0.56% 

(MENAFN - Arab News) The Saudi stock market continued its downward fall yesterday, closing the second straight day with mild losses.

The Tadawul All-Share Index (TASI) ended lower to 6,741.82, shedding 0.56 percent or 38.18 points for the entire day.

The index went 8.65 points above and 47.86 points below the break-even line during the day.

The market cap indices also ended in red for the second consecutive day.
Most of the sector indices finished negatively, with 11 sectors paring an aggregate of 495 points for the day.

The Media and Publishing sector tumbled more than 3.7 percent to end at 2,782.43.

Insurance and Hotel & Tourism sectors followed it, trimming 1.62 percent and 1.21 percent respectively.

On the positive side, four sectors moved upward slightly, showing a collection of 74 points only.

Energy & Utilities was the significant gainer for the day, advancing 0.61 percent to close at 4,840.86.

Seven out of top 10 heavy weights closed in red, with Samba Financial Group dipping by 1.36 percent, Saudi Telecom 1.2 percent and Al-Rajhi Bank 1.07 percent.

Only three heavyweights including Saudi Arabia Fertilizers Co. (SAFCO), the best performer (up 1.19 percent), turned green.

The market breadth confirmed a bearish momentum, as out of 155 stocks traded yesterday 100 were not able to close green.

Wataniya Insurance Company outperformed among all Saudi equities, reflecting an increment of SR 9.25 or 9.81 percent to close the day at SR 103.5.

Amana Cooperative Insurance, on the other hand, posted the largest losses of 9.98 percent to close at SR 236.75.