30/03/2011
TASI UP
Saudi Arabia's benchmark rose for a seventh session in nine, with blue chips ending mixed
The Tadawul All-Share Index (TASI) edged higher by 0.17 percent to 6,519.13 points. The sector activity for the day was almost positive with 10 out of 15 with gains ranging from 0.16 percent by the Building & Construction sector to 2.17 percent by the Media and Publishing sector.
On the other hand the losing sectors ranged from 0.16 percent by the Banks & Financial Services sector to 0.94 percent by the Hotel & Tourism sector. The overall market breadth for the day was positive with 89 advancers against 42 decliners giving it an AD ratio of 2.1, the Financial Transaction House (FTH) — licensed by the Capital Market Authority — said in its daily market commentary.
The stock market turnover for the day reached SR4.03 billion.
The real estate index hit a six-week high, extending gains on renewed speculation that a long-awaited mortgage law would be approved soon.
"Real estate stocks may have an effect for next two days on the mortgage law," said a Riyadh-based trader who asked not to be identified. "I would be cautious on real estate numbers. We could see some weakness. In the long-term, they are good, but people are short-termhere."
Abu Dhabi's index surged 0.04 percent to 2,635 points, taking its March gains to 1.8 percent.
Oman's index fell to a 12-day low after Renaissance Services fell 6.6 percent
The Qatar index rose 0.3 percent to 8,399 points.
The Kuwait index rose 0.3 percent to 6,323 points.
The Oman index fell 0.5 percent to 6,339 points.
The Bahraini measure dropped 0.09 percent to 1,427 points.
