Saudi Tadawul index and turnover dip 

(MENAFN - Arab News) The Saudi stock market was in the red yesterday as the Tadawul All-Share Index (TASI) dipped 51.82 points or 0.68 percent to 7,555.77, but the index trimmed its year-to-date gains to 17.73 percent.

All market cap indices traded in the red zone.

All Saudi sectors performed negatively, except multi-Investment, which resisted the prevailing downward trend throughout the session, achieving a nominal 15.06 points or 0.43 percent for the entire day.

On the other hand, Transport and Hotel & Tourism sectors became the worst performers, showing a decrease of 2.06 percent and 1.83 percent respectively. Banks & Financial Services also trimmed more than 100 points for the day.

Most of heavy weights closed in red; where Kingdom Holding dipped by 1.23 percent, Al-Rajhi Bank 0.95 percent and SABIC (Saudi Basic Industries Corp.) 0.73 percent. Only Saudi Arabian Fertilizers Co. (SAFCO) went up by 0.54 percent to close at SR184.25.

Tadawul investors showed a lackadaisical attitude, as the market's volume went 36.7 percent below the 50-day average of 627.4 million shares.

Liquidity also shrank to SR9.2 billion, 32.2 percent lower than the 50-day average of SR13.5 billion.

Decliners outnumbered the advancers by a margin of 108 to 28 and the prices of 13 companies remained unchanged.

Insurance stocks secured their position as major gainers with Buruj Cooperative Insurance and Arabia Insurance Cooperative Co., rising by 9.95 percent and 8.01 percent respectively.