Saudi Tadawul breaks 7,000-point barrier 

(MENAFN - Arab News) The Tadawul All-Share Index (TASI) jumped into the green territory earlier yesterday and spending almost entire session in the same region closed higher to 7,025.31 points, up 26.96 points or 0.39 percent from its previous close.

Among market cap indices only Small cap went slightly downward.
Sectoral performance was positive, as 10 out of 15 sectors closed in the upward zone, accumulating over three hundred points. While, five sectors finished to the downside, trimming 115.6 points collectively.

One of the best performing sectors was Telecommunication & Information Technology which rose to 1.13 percent, closing the day at 2,257.37. Cement and Real Estate were other significant advancers which gained 0.9 percent for the day. On the other hand, Media and Publishing - the key gaining sector of previous trading day - became the biggest decliner of the day, down 38.3 points or 1.25 percent to 3,030.42.

Most of heavyweights closed in green, with Saudi Telecom Co. outdid rest of its peers, advancing 2.2 percent to SR 41.8.

The advancers outnumbered declining stocks on the Tadawul; as for 53 percent stocks that gained, 37 percent ended lower and 10 percent remained unchanged.

The share price of Allianz Saudi Fransi Cooperative Insurance rallied to a maximum growth of 10 percent, closing the day at SR 57.75. Saudi Industrial Export Company continued its upward march for the seventh straight day, adding SR 11.25 or 9.91 percent further.

Share trading activity remained high as compared to previous day; turnover went up by 9.5 percent in terms of value and 6.1 percent in terms of volume. Najran Cement topped the volume chart by liquidating more than 24.8 million shares, which equates 11.1 percent of overall market volume. The company also ended in green, moving up by 4.63 percent.