Tadawul returns to green status

After two days of consecutive decline, the Saudi Stock Market rebounded yesterday, as the Tadawul All-Share Index (TASI) jumped into the green territory earlier yesterday and spending entire session in the same region closed higher at 6,723.21 points, up 61.22 points or 0.92 percent from its previous close. On an YTD basis, TASI registered a positive return of 305.48 points or 4.76 percent. All market cap indices also showed modest gains. Tadawul’s total 15 sectors moved upward, showing a collection of 711 points. One of the best performing sectors was Insurance which rose to 2 percent, closing the day at 1,413.68. Industrial Investment and Telecom sectors followed it, advancing 1.9 percent for the day. The top ten heavyweights closed the day in green. Saudi Arabian Mining Co. — MAADEN and Saudi Telecom performed well relatively, advancing 2.8 percent for the day. Only, Saudi Arabia Fertilizers Co. (SAFCO) slipped 0.67 percent to close at SR185.75. The advancers easily outnumbered declining stocks on the Tadawul (market); as for 78 percent stocks that gained, 15 percent ended lower. Saudi Integrated Telecom-munication (Almuta-kamela) showed the best performance among all Saudi stocks, surging by 9.85 percent to close at SR 23.4. The company has also been able to occupy the place at volume chart, liquidating more than 8.7 million shares, and ranking fourth. Buruj Cooperative Insurance and Etihad Atheeb Telecom followed Almutakamela, rising by 9.78 percent and 9.58 percent respectively. From arabnews