Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Market cap rises to SR 1.45 trillion  Join our daily free Newsletter

MENAFN - Arab News - 16/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) Saudi Arabia's benchmark stock index turned green last week, recovering entirely from previous week's losses and again crossing 7,000-points mark.

The TASI continued stepping its way higher throughout the week to close in the green at 7,062.98 points, up 80 points or 1.15 percent, from its previous weekend close at 6,982.89 points. It performed within a trading range of 88.6 points last week. On year-to-date basis, the index showed a collection of 262 points or 3.85 percent.

Total market capitalization of Saudi stock exchange increased to SR 1.45 trillion as compared to previous week's value, an increase of 1.2 percent. Med cap outperformed among the market cap indices, posting a weekly growth of 1.7 percent.

All sectors extended weekly gains except Insurance, which pared 23.4 points or 1.86 percent to close at 1,232.38 levels. Wataniya Insurance, Gulf Union Insurance and Amana Cooperative Insurance were major decliners, going down by 16.4 percent, 7.3 percent and 7.2 percent respectively.

Remaining 14 sectors accumulated more than 1,183 points last week. Hotel & Tourism sector continued its upward march for the third consecutive week, surging over three percent to 9,259.1. Media and Real Estate sectors were other significant gainers, advancing 2.7 percent and 2.4 percent respectively.

Most of heavyweights marched higher from previous week's level, with SABB rising by 6.33 percent, Kingdom Holding 3.41 percent and Saudi Arabia Fertilizers Co. (SAFCO) 3.14 percent.

Weekly market breadth remained favorable as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 91 to 55 and the prices of 10 companies remained unchanged.

Allied Cooperative Insurance Group stepped up to occupy the top position at Tadawul, surging SR 9.0 or 15.6 percent further to SR 66.75. Tourism Enterprises Co. also continued to show a tremendous performance for the fifth straight week, marching higher by 13.6 percent further.

Investors continued to flow an optimal level of turnover; specifically, 1.1 billion shares worth SR 28 billion changed hands on the Saudi stock market last week. Furthermore, upside-downside volume ratio of 1.03:1 remained positive.

New player Northern Region Cement with trades over 268.8 million shares worth SR 6.3 billion remained as the most active stock of the week. But the company posted the largest weekly losses, falling 21.5 percent and closing at SR 21.2.

All benchmark indices at GCC stock markets ended the week in green.
The benchmark GulfBase GCC General Index closed the week higher at 4,096.25 points level, adding 31.6 points or 0.78 percent for the entire week.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help