News Column

Energy sector advances 1.32%

February 18, 2014

Arab News, Jeddah, Saudi Arabia



Feb. 18--JEDDAH -- Saudi Arabia's benchmark Tadawul All-Share Index (TASI) dropped 30.55 points or 0.34 percent to 8,939.88 points on Monday.

It traded within a range of 65 points, moving 14 points up and 51 points below the level of opening bell yesterday. Still TASI's year-to-date collection remained over 400 points.

The market cap indices all finished to the downside. Most of the sector indices ended negatively, paring an aggregate of 508.6 points.

Only four sectors including Energy & Utilities, the best performer (up 1.32 percent), moved higher from previous day's level.

Agriculture and Industrial Investment sectors showed the worst performance, declining 0.96 percent and 0.88 percent respectively.

Most of the trading was concentrated in the Insurance sector, which liquidated more than 43 million shares, a relative market share of 19 percent. The sector also contributed 20 percent (SR1.3 billion) to the overall market liquidity.

Tadawul turnover set sold approximately 228 million shares worth SR6.2 billion, an increase of 3 to 5 percent over the 50-day average levels.

Decliners outnumbered the advancers by a margin of 83 to 52 and the prices of 25 companies remained unchanged.

Saudi Pharmaceutical Industries and Saudi vitrified clay pipes co. suffered worst of all equities, each reducing by 2.6 percent.

On the other hand, new player Saudi Marketing Company (FARM) continued its upward march, marking another gain of 9.85 percent to close at SR43.5.

Saudi Electricity Co. (SEC) was another key gainer among heavyweights, advancing 1.33 percent for the session.

The market leader SABIC (Saudi Basic Industries Corp.) declined by 0.89 percent to close at SR112.25.

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(c)2014 the Arab News (Jeddah, Saudi Arabia)

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Source: Arab News (Saudi Arabia)


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