Tadawul remains almost unchanged

The contest between bulls and bears ended without any significant change at Saudi stock market yesterday as Tadawul index retreated to 7,094.18 points, which was roughly where it started the session. The Tadawul All-Share Index (TASI) wavering in the North-South within a range of 20 points, closed just below the break-even line losing a nominal 1.30 points or 0.02 percent. For the day, only Med Cap indices went downward slightly. Ten out of Tadawul's fifteen sectors ended the day in green territory, accumulating an aggregate of 327 points. Hotel & Tourism sector remained at top showing an increase of 1.55 percent and closing below the 10,000-mark. On the negative side, five sectors ended in red, trimming 187 points collectively. Cement sector posted the largest losses, falling 1.37 percent to close at 6,310.18. Saudi Cement Co. and Southern Province Cement recorded the biggest losses, going down more than four percent. Heavy weights closed in mixed fashion, where Kingdom holding rose 1.84 percent and Saudi telecom fell 0.77 percent for the day. Market breadth was positive, as rising stocks outnumbered decliners by a margin of two-to-one on the Tadawul market. ACE Arabia Cooperative Insurance (+9.9 percent) and Buruj Cooperative Insurance (+5.7 percent) showing notable gains became the top performers among all Saudi stocks. Dar Alarkan Real Estate appeared to be the most active stock for the day. Its volume set sold about 13 million shares, which are about 7.6 percent of the overall market. National medical care company continued its most liquid status, pumping more liquidity (SR 732.1 million) into the market. It bucked the 5-day downward trend yesterday and turned green with reasonable gains, achieving one and half percent growth to close at SR 84. Source: Arab News