Small caps move upward slightly

After three consecutive days of trading in the green, the Saudi stock market took a reversal yesterday, dropping a few points merely. The Tadawul All-Share Index (TASI) stepped down to close at 7,155.77 points yesterday. The index traded within a narrow range of 26 points, trimming 0.14 percent for the entire day. Only Small cap among the market cap indices moved upward slightly. Saudi sectors indices performed in a mixed fashion, with seven sectors accumulating an aggregate of 77 points and an equal number of sectors trimming 162 points collectively. While, Hotel & Tourism sector ended without any change. Industrial Investment, Insurance and Real Estate sectors showed the best performance among sectoral indices, advancing 0.4 percent for the day. On the other hand, Agriculture, Retail and Banking sectors counterbalanced, shedding same percentage. Decliners outnumbered the advancers by a margin of 73 to 47 and the prices of 34 companies remained unchanged. The Kingdom Holding continued its upward march among heavy weight stocks, adding SR 0.2 or 1.25 percent for the day. The company has been trading in green zone for the eighth consecutive day to close at SR 16.20. Buruj Cooperative Insurance came out as significant gainer among all Saudi stocks, rising by 7.2 percent to close the day at SR 67.25. Share trading activity remained roughly 15 percent lower than that of Saturday. More than 198 million shares worth SR6.2 billion changed hands on the Saudi stock market. From : Arabnews