Increasing prices of 26 investment funds
Saudi Investment Funds has seen disparity in the prices of its documents, increasing of 26 investment funds, while 25 slipped. "Al Rehab" was ranked first in terms of height gains with a rise of 8.28 percent,While the "Cement shares fund" which belongs to HSBC fell by 1.83 percent, to close at 5.4484 riyals on May 2, 2010.
"Mubashr" report has declared that "when dividing of funds according to each class, we find rising prices in real estate documents up to 100 percent.
Local shares funds rose up to 25.42 percent, while Arab Stock Funds documents rose up to 15 percent; a decline has seen in the performance of international stock funds with 3.03 percent .
Saudi Arabia's benchmark fell for the second straight day but analysts remain optimistic about the long-term prospects of the kingdom's markets. The Tadawul All-Share Index (TASI) declined 0.23 percent to 6,891.72 points.
The sector activity for the day remained predominantly negative with losses ranging from 0.02 percent by the Petrochemical Industries sector to 1.38 percent by the Telecommunication & Information Technology sector. The gaining sectors on the other hand ranged from 0.19 percent by the Hotel & Tourism sector to 1.36 percent by the Real Estate Development sector. The overall market breadth for the day was negative with 43 advancers against 70 decliners giving it an AD ratio of 0.61.
AlRajhi funds saw a growth rate of 35.71 percent, rising prices of 33.33 percent of Al Arabi,Fransi,Hollandi funds equally, AlJazirah funds achieved the highest increase amounted to 20 percent. Rana funds saw a decline of 100 percent,Al Ahli funds rose up to 7.41 percent, while Fransi slipped 8.33 percent.