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Saudi- Tadawul: Real estate sector suffers 1.932 losses
(MENAFN- Arab News) Saudi Arabia's benchmark stock index turned red on Tuesday reversing after a 3-day surge and dropping 0.96 percent for the day.
The Tadawul All-Share Index stepped down to 9300.5 points shedding ninety points approximately. Curving in the downward territory throughout the day it dipped to a maximum loss of 1.19 percent.
All market cap indices finished to the downside with Large cap falling over one percent.
The market leader Saudi Basic Industries Corp. (SABIC) suffered worst of large caps dipping by 2.21 percent and closing at SR95.57. Saudi Electricity Co. however was a key heavyweight gainer up 2.33 percent.
Only five out of Tadawul's 15 sectors witnessed a positive change accumulating 262.5 points. Remaining twofold sectors lost an aggregate of 1147 points.
One of the best performing sectors was Insurance which rose to 1.59 percent closing the day at 1540.82.
On the other negative side Real Estate sector posted the largest losses going down by 133 points or 1.93 percent to 6755.85.
The total number of falling stocks exceeded to the total number of rising stocks by a margin of 106 to 42 and the prices of 15 companies remained unchanged.
MedGulf Insurance topped the performance chart at Tadawul marching higher by 6.53 percent to finish at SR 57.69. Share price of Tawuniya Insurance climbed to a fresh five-year high of SR 84.25 achieving an intra-day gain of 4.62 percent.
Furthermore Buruj Cooperative Insurance added more than 25 percent in 13 consecutive sessions.
While Middle East Specialized Cables Co. showing excessive losses of 9.94 percent became the major decliner for the second straight day.
Dar Al-Arkan Real Estate with trades over 98 million shares worth SR983.9 million continued its most active status capturing nearly one-fourth of the market volume and 9.6 percent of total liquidity.
A good amount of volume roughly 415 million shares was liquidated at Tadawul a decrease of twenty percent from the previous level but still it was 17.4 percent greater than 50-day average of 354 million shares.
The Tadawul All-Share Index stepped down to 9300.5 points shedding ninety points approximately. Curving in the downward territory throughout the day it dipped to a maximum loss of 1.19 percent.
All market cap indices finished to the downside with Large cap falling over one percent.
The market leader Saudi Basic Industries Corp. (SABIC) suffered worst of large caps dipping by 2.21 percent and closing at SR95.57. Saudi Electricity Co. however was a key heavyweight gainer up 2.33 percent.
Only five out of Tadawul's 15 sectors witnessed a positive change accumulating 262.5 points. Remaining twofold sectors lost an aggregate of 1147 points.
One of the best performing sectors was Insurance which rose to 1.59 percent closing the day at 1540.82.
On the other negative side Real Estate sector posted the largest losses going down by 133 points or 1.93 percent to 6755.85.
The total number of falling stocks exceeded to the total number of rising stocks by a margin of 106 to 42 and the prices of 15 companies remained unchanged.
MedGulf Insurance topped the performance chart at Tadawul marching higher by 6.53 percent to finish at SR 57.69. Share price of Tawuniya Insurance climbed to a fresh five-year high of SR 84.25 achieving an intra-day gain of 4.62 percent.
Furthermore Buruj Cooperative Insurance added more than 25 percent in 13 consecutive sessions.
While Middle East Specialized Cables Co. showing excessive losses of 9.94 percent became the major decliner for the second straight day.
Dar Al-Arkan Real Estate with trades over 98 million shares worth SR983.9 million continued its most active status capturing nearly one-fourth of the market volume and 9.6 percent of total liquidity.
A good amount of volume roughly 415 million shares was liquidated at Tadawul a decrease of twenty percent from the previous level but still it was 17.4 percent greater than 50-day average of 354 million shares.
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