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MENAFN - Arab News - 12/12/2013
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(MENAFN - Arab News) The Saudi stock market recorded nominal gains on Wednesday, as the Tadawul All-Share Index (TASI) closed higher to 8,399.65, adding less than half point for the entire day.
It went 11.38 points above and 22.96 points below the break-even line during the day. The market cap indices closed in mixed territories. Six out of Tadawul's fifteen sectors extended gains, reflecting an accumulation of 160 points.
Real Estate Development showed the best performance among all sectors, advancing exactly half percent and closing at 4,728.14.
On the negative side, nine sectors including Media and Publishing (-0.74 percent) - the biggest decliner of the day - went downward, trimming an aggregate of 96 points.
Saudi Arabia Fertilizers Co. (SAFCO) with 0.63 percent upward jump remained prominent among heavyweights. While, market leader SABIC (Saudi Basic Industries Corp.) perfomed worst amongst big players, closing the day lower 0.68 percent. But it continued to pump more liquidity into the market, contributing SR 563.3 million and closing at SR109.75.

The market breadth with advance-decline ratio of 0.85:1 remained slightly unfavorable. ANB Cooperative Insurance continued to dominate the performance chart in a consecutive manner, soaring up 9.86 percent further and closing at SR23.4. Rabigh Refining and Petrochemical Company followed it, surging 4.6 percent for the day.
Alinma Bank continued its most active status, liquidating 20.5 million shares, which equates 13.5 percent of overall market volume.
Roughly 152 million shares worth SR4.4 billion changed hands on the Saudi stock market. This turnover reflects a daily decrease of 21 percent on volume basis and 15 percent in terms of liquidity.
Tadawul turnover also went below the 50-day average level.


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