Tadawul index takes a rebound

After six consecutive days of trading in the red, the Saudi stock market rebounded yesterday. The Tadawul All-Share Index (TASI) dived in the south earlier yesterday, trading in the downward territory for most of the session and finally crossing the breakeven line to close higher at 6,977.67 points level, achieving 17.02 points or 0.24 percent for the entire day. The index traded within a range of 70 points. All market cap indices ended the day in the upward zone. Sector indices performed in a mixed fashion, with nine sectors accumulating an aggregate of 237 points and six sectors trimming 58 points collectively. Media & Publishing and Insurance sectors remained at top positions, advancing 1.73 percent and 1.63 percent respectively. Market breadth was positive, whereby 76 symbols closed in green and 49 closed in red, while 29 remained unchanged. SABB and bellwether SABIC (Saudi Basic Industries Corp.) showed the best performance among heavyweight stocks, surging 0.97 percent and 0.83 percent respectively. Share price of Amana Cooperative Insurance rallied to a maximum growth of 10 percent, clinching the spot as top gainer for the second straight day. On the other side of the spectrum, Allianz Saudi Fransi suffered the greatest amount of damages, turning down 9.84 percent to close the day at SR 80.25. Nearly one-half of its worth has been reduced in five consecutive days. From : Arabnews