Tadawul fluctuates in narrow range

Saudi Stocks showed narrow fluctuations yesterday, as the Tadawul index with a negative change of 3.32 points remained almost flat, closing at 6,953.21. The Tadawul All-Share Index (TASI) wavering in the green-red within a range of 38 points, closed just below the break-even line trimming a nominal 0.05 percent. Among market cap indices only Large cap went slightly downward. Sectoral performance was positive, with eleven sectors accumulating an aggregate of 198 points. Industrial Investment outdid rest of the sectors, advancing exactly one percent to close at 6,455.43. Insurance — the worst performing sector of previous day — also turned green, increasing by 0.94 percent and ranking second. On the negative side, four sectors including Banks & Financial Services (-0.96 percent) — the biggest decliner of the day — went downward, paring an aggregate of 224 points. Samba Financial Group outperformed among large market cap companies, rising 0.9 percent for the day. Al-Rajhi Bank, however, remained significant decliner, going down further 2.6 percent to SR 66.25. There were 56 net advancing issues, a strong market breadth. Salama Insurance and Bupa Arabia Insurance made the biggest jumps among all Saudi equities, marching higher by 9.9 percent and 9.2 percent respectively. On the other hand, Saudi Indian Company for Co-operative Insurance (WAFA Insurance) — the best performing company of previous day — posted the largest losses this time, falling over three percent to SR 71. Northern Region Cement remained the most active stock of the day. Its volume set sold about 20.9 million shares, which equates 15.5 percent of the overall market volume. The company with a liquidity of SR 458.5 million also topped the value chart, closing at SR 21.75. Arab news