26/04/2010
Daily Market Commentary
Stock market continues to rise, approaching the level of 6900 points
A trader in the Saudi stock market
The Tadawul All-Share Index (TASI) continued to surge on Sunday, It closed 0.54 points higher at 6.892.94 points despite five sectors closing negatively.
The negative sectors closed with losses ranging from 0.01 percent in the Petrochemical Industries sector to a loss of 0.76 percent in the Transport sector.
Positive sector movement on the other hand ranged from a gain of 0.14 percent in the Hotel & Tourism sector to a gain of 1.53 percent in the Cement sector.
Overall market breadth was relatively neutral with a positive bias as 60 advancers beat out 5.8 decliners recording an AD ratio of 1.03, as the Financial Transaction House (FTH) said in its daily market commentary.
By the end of trading, 60 shares were on the green zone, while 58 declined, 20 papers remained stable relatively from a total of 138 paper traded. Al Ahsa shares rose up to 8.7 percent.
SABIC shares - the largest listed companies by market value – ended the trading session on the relative stability with 105.25 riyals.
Al Rajhi shares - the largest bank by market value rose up to 2.45 percent, while Bupa Arabia shares declined by 5.38 percent to the price of SR 26.3, followed by Anaam Holding shares which rose by 2.56 percent to the price of 57 riyals.
