Micro cap keeps Tadawul index up

The Saudi stock market continued a positive drive yesterday, as Tadawul All-Share Index (TASI) advanced over 29.5 points or 0.43 percent for the entire day to close at 6,843.15. The trading range expanded slightly to 41 points as compared to previous day’s 32 points. TASI’s year-to-date gains improved further to 6.63 percent. Micro cap (+1.7 percent) indices continued to perform well for the third consecutive day. Sectoral performance was tremendous, as 12 out of the 15 sectors closed in the upward territory, showing a collection of 494 points. Transport and multi-investment were best performing sectors of the day, surging by 1.84 percent and 1.73 percent respectively. However, Energy & Utilities and Insurance ended in red, going down by 0.68 percent and 0.54 percent respectively. The market breadth was positive with 100 stocks witnessing advances against 37 stocks witnessing declines and prices of 18 companies remained unchanged. Most of heavyweights marched higher from previous levels, with Kingdom Holding surging by 1.94 percent, Samba Financial Group 1.8 percent and Etihad Etisalat Co. (Mobily) 0.99 percent. On the other hand, Saudi Elec-tricity Co. — SEC continued its downward fall, trimming 0.75 percent further. Among all Saudi equities, ACE Arabia Insurance made the biggest jump for the second straight day, surging 9.93 percent further to close at SR 229.75. On the other side of the spectrum, Amanah Cooperative Insurance suffered the greatest amount of damages, turning down 10 percent to close the day at SR 211.5. From Arab News