Tadawul continues to decline further

The Tadawul All-Share Index (TASI) continued stepping downward on its last trading day of the week yesterday, flip-flopping between green-red within a range of 37.2 points. The index ended lower to 6,816.93 level, down 11.26 points or 0.16 percent further. Its year-to-date (YTD) 2012 gains reduced to 6.22 percent. Among market cap indices only Large cap was able to close a little higher, as major heavy weights including Kingdom Holding, Mobily and SABIC (Saudi Basic Industries Corp.) closed green, advancing 2.13 percent, 0.67 percent and 0.55 percent respectively. Most of the sector indices ended negatively, with nine sectors paring an aggregate of 336 points for the day. The Media and Publishing sector delivered a largely negative performance for the second consecutive day, slipping 3.57 percent to close at 2,679.44. Insurance sector followed it, shedding 3.15 percent for the day. The total number of falling stocks exceeded to the total number of rising stocks by a margin of 95 to 37 and the prices of 23 companies remained unchanged. Share prices of Amana Cooperative Insurance dived to a maximum decline of 9.9 percent, topping the decliner chart for the second straight day. A reduction of roughly 40 percent in the value of Amana Insurance has been recorded in four consecutive days. From : Arabnews