Buying interest reduces at Tadawul

The Saudi stock market continued to fall yesterday. The index fell nearly 1.39 percent in three days. Tadawul Investors lacked buying interest on Tuesday, as the market’s volume went 20.9 percent below the 50-day average of 624.45 million shares. Liquidity also shrank to SR9.9 billion, 26.3 percent lower than the 50-day average of SR13.5 billion. The Tadawul All-Share Index (TASI) opened with positive note yesterday, touched a peak of 7551.17 earlier but abruptly changed its direction toward south, spending most of the session in the same zone closed red at 7512.26, down 12.91 points or 0.17 percent. The performance of all sectors was mingled as seven out of Tadawul’s 15 sectors witnessed advancement. Media and Publishing remained at top showing the accumulation of 86.2 points or 3.32 percent for the day. It was followed by transport sector, rising by 2.29 percent to close at 4,386.17. On the worst side, banks and financial Services lost 133.01 points or 0.77 percent from its previous level. Saudi Telecom among heavy weights continued to trade in green for the second consecutive day, up 1.18 percent. On the other hand, Samba Financial Group trimmed 1.46 percent further to close at SR50.75. The market breadth was almost balanced with 67 issues witnessing advances against 66 issues recording declines. Ash Sharqiyah Development, Saudi Land Transport Co. and Saudi Printing & Packaging Co. were key gainers amongst all Saudi stocks, advancing over 9.8 percent for the day.