Tadawul continues its winning streak

Saudi stock market recorded its sixth consecutive gain yesterday, keeping the upward momentum in moderate participation. The Tadawul All-Share Index (TASI) ended the day in the green at 6,941.97 points, up 0.33 percent, from its previous day close at 6,919.17 points. The index went to a maximum of 42 points up from the level of opening bell yesterday. Seven sector indices at Tadawul (market) ended with a positive change, accumulating nearly 380 points jointly while eight sectors ended in red zone. Multi-Investment sector outperformed, up by 3.65 percent to close at 3,538.28 points. The banks and financial services sector continued its upward march for the fourth straight day, adding 187 points or 1.24 percent further. SABB and Samba Financial Group played well, moving up 4.26 percent and 2.62 percent respectively. The market breadth was almost balanced with 67 issues witnessing advances against 69 issues recording declines. The heavyweight Kingdom Holding showed a tremendous performance among all Saudi stocks, marching higher by 9.32 percent to close the day at SR 17. Saudi Integrated Telecom (ALMUTAKAMELA) — the best performer of previous day — became the most active stock of the day, which liquidated more than 19.8 million shares, capturing 10 percent of the overall market volume. The value of these shares totaled SR 542.5 million, a relative market share of 9 percent. But the company fell down a little by 0.75 percent, closing the day at SR 26.5. From : Arabnews