Tadawul wavers in narrow range

Saudi stocks showed narrow fluctuations yesterday, as Tadawul index traded in the range of 32 points only. Tadawul All-Share Index (TASI) reflected a sideways walk for most of the session and ended red at 7,104.19 points, dropping less than half point for the entire day. Sector indices performed in a mixed fashion, with nine sectors accumulating an aggregate of 234.4 points and six sectors trimming 147 points jointly. Insurance, Agriculture and Energy sectors showed the best performance, advancing over one percent for the day. The market breadth was positive with 74 stocks witnessing advances against 65 stocks witnessing declines and prices of 15 companies remaining unchanged. Most of heavy weights closed a bit lower with Saudi Arabia Fertilizers Co. (SAFCO) falling 0.93 percent and Samba Financial Group 0.42 percent for the day. However, Saudi Electricity Co. (SEC), Kingdom Holding and Riyad Bank ended positively, moving upward by 1.15 percent, 0.83 percent and 0.43 percent respectively. AMANA Insurance played well among all Saudi stocks, reflecting an increment of SR 13 or 9.57 percent to close the day at SR 148.75. Tadawul turnover reflected an increase of 7.9 percent, surpassing previous day’s SR 6.1 billion. Dar Al-Arkan Real Estate continued to dominate the trading activity at Tadawul. The company liquidated more than 48.7 million shares, capturing 17 percent of the overall market volume. From : Arabnews