News Column

Transport sector index exceeds 8,000-mark

June 3, 2014

Arab News, Jeddah, Saudi Arabia



June 03--JEDDAH -- Saudi Stocks showed narrow fluctuations on Monday, as the Tadawul All-Share Index (TASI) with a zero percent change remained almost flat, closing at 9,864.61. It went 7.3 points high and 42.8 points below the break-even line during the day.

The TASI has achieved nearly 16 percent during the first half of 2014. Sectoral performance was positive, with twofold sectors accumulating an aggregate of 424 points. Transport reflecting notable gains over two percent became the top performing sector, crossing the 8,000-mark. Real estate development sector was another significant gainer, advancing more than one percent to 7,101.91.

On the other hand, Telecommunication & Information Technology sector showed the worst performance, going down 2.62 percent to 2,908.32. Major Largecaps closed in red, with Etihad Etisalat Co. (Mobily) suffered worst of all heavyweights, turning down 4.34 percent for the day.

Market breadth remained slightly negative, with 65 stocks witnessing advances and 74 others marking a decline.

Etihad Atheeb Telecommunication Company outperformed among all Saudi equities, surging 5.90 percent for the day. On the contrary, Weqaya Takaful insurance posted the largest losses, reducing by 5.16 percent to close the day at SR19.86.

Tadawul volume went up by 8.3 percent and traded 289.4 million shares as compared to previous day's 267.3 million shares. Roughly SR9.3 billion was poured into the market, an increase of 10.3 percent.

But the volume was 17 percent lower than the 50-day average level. Dar Alarkan Real Estate and Atheeb Telecom with trades over 58.8 million shares topped the volume chart, capturing 20 percent market volume jointly.

The market leader SABIC (Saudi Basic Industries Corp.) with a liquidity of SR544.9 million topped the value chart, closing at SR115.9.

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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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