News Column

TADAWUL: Real estate sector moves to top

April 30, 2014

Arab News, Jeddah, Saudi Arabia



April 30--JEDDAH -- Despite an upward jump (+36 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a slight decline of 0.13 percent on Tuesday.

The index performed within a range of 55.3 points, closing the day at 9,562.93. TASI's year-to-date yield still logged over 12 percent.

Eight out of Tadawul's fifteen sectors extended gains, reflecting an accumulation of 575 points.

Real Estate Development sector stepped up to occupy the top position at Tadawul, rising 1.32 percent further to close at 6,707.0.

Jabal Omar Development Company was a key gainer in this sector, which rose 4.5 percent hitting a new all-time high to SR48.5.

The company also secured its most liquid status, pumping more than one billion Riyals into the market.

Industrial Investment and Transport sectors were other advancing sectors, reflecting an increment of 1.31 percent and 1.14 percent respectively.

On the negative side, seven sectors including Cement -- the worst performer (down 0.67 percent) ended in red, paring 258 points jointly.

Most of heavyweight finished to the downside, with Saudi Telecom and Kingdom Holding falling more than one percent.

Tadawul volume went down by 7.2 percent and traded 329.5 million shares as compared to previous day's 355.2 million shares. But still it was slightly above the 50-day average level.

A good amount of liquidity SR10.9 billion were poured into the market, an increase of 48.4 percent over the 50-day average level.

Etihad Atheeb Telecom-munication Company appeared to be the most active stock of the day, liquidating 24.6 million shares, which equates 7.5 percent of overall market volume.

But the company performed worst, slipping 5.7 percent to SR17.74.

The total number of falling stocks exceeded to the total number of rising stocks by a margin of 92 to 48.

Share price of Saudi Industrial Export Co. rallied to a maximum growth of 10 percent, clinching the spot as top gainer amongst Saudi stocks.

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

Visit the Arab News (Jeddah, Saudi Arabia) at www.arabnews.com

Distributed by MCT Information Services


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Source: Arab News (Saudi Arabia)


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