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MENAFN - Arab News - 02/12/2012

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(MENAFN - Arab News) The demand for Saudi stocks increased substantially yesterday as Tadawul index recorded its largest intra-day increase since April 18, 2012.

The Tadawul All-Share Index (TASI) continued its upward march for the second consecutive trading day, dug in at 6,688.18 points level and finished the day up over 2.37 percent.

The index continued pacing its way higher throughout the day to achieve 155.04 points in a single session.

On Year-to-date basis, it showed a yield of 4.21 percent.
All market cap indices traded in the positive zone, with Micro cap up by 2.94 percent.

Sectoral performance was tremendous, as all sectors closed in green and accumulated an aggregate of nearly 1,520 points. Insurance made the biggest jump among all sector indices, marching higher by 4.69 percent to close at 1,401.59.

Telecom and Media sectors followed it, advancing by 3.89 percent and 3.06 percent for the day. Banking sector added more than 370 points, up 2.58 percent.

Top 10 market cap companies closed the day in green territory. Etihad Etisalat Co. (Mobily) and Samba Financial Group showed the best performance among heavyweights, moving up further by 5.19 percent and 3.61 percent respectively.

There were 145 net advancing issues, a largely strong market breadth.
Insurance companies were the significant winners among all Saudi stocks, with Al Ahlia Insurance Co. and Saudi Arabian Cooperative Insurance, rising by 9.95 percent and 9.88 percent respectively.

Most of the trading was concentrated in the Real Estate Development sector with 53.2 million shares, capturing roughly 25 percent of Tadawul volume.

 






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