Transport sector takes a sharp uplift

Saudi stock market sustained downward momentum yesterday as the Tadawul All-Share Index (TASI) lost further 20.48 points to close at 6,661.99 levels on Sunday, down 0.31 percent over the close of the previous day. The index went 5.15 points above and 47.04 points below the break-even line during the day. Among market cap indices, Micro Cap moved upward slightly. Saudi sectors indices performed in a mixed fashion, with six sectors accumulating an aggregate of 96.44 points. The transport sector, which took a sharp uplift just before the closing bell, minimizing intra-day losses by advancing 1.04 percent to close at 4,419.43. The Telecommunication and IT sector has also been resisting the prevailing downward trend throughout the session, achieving 16.24 points or 0.8 percent for the entire day. On the other hand, Petrochemical Industries continued its descending travel for the eighth consecutive session, going down 1.24 percent further. Most of heavy weights closed in green, with SABB surging 1.03 percent, Kingdom Holding 0.71 percent and Samba Financial Group 0.69 percent. Advancing stocks outnumbered decliners by a margin of 73 to 71 and the prices of 11 companies remained unchanged. Allianz Saudi Fransi showing notable gains of 9.86 percent became the top performer amongst all Saudi stocks. New player City Cement Company, which maintained a heavy flow of liquidity SR 662.5 millions with trades of over 37.8 million, topping the value and volume charts at Tadawul for the second straight day. But the company trimmed 1.7 percent yesterday, closing at SR17.3. From arabnews