31/05/2010
Profits swept most sectors;and a decline by 1.4%
The Tadawul All-Share Index (TASI) ended 1.4 percent lower at 6,087.28 points. The sector activity for the day was negatively biased with only 2 sectors closing with gains and the remaining sectors closing with losses. The gaining sectors for the day were namely Retail and the Hotel Tourism sectors with gains of 1.30 percent and 0.46 percent respectively.
The losing sectors on the other hand ranged from 0.26 percent by the Energy & Utilities sector to 2.31 percent by the Media and Publishing sector.
The overall market breadth for the day remained negative with only 16 advancers against 114 decliners giving it an AD ratio of 0.14, the Financial Transaction House (FTH) said in its daily market commentary.
(SABIC) surged 10 percent on Saturday, leading the Kingdom's bourse to its biggest one-day gain since November 2008. The Qatari index rose 2.1 percent to 6,826 points.
"We are following what happened yesterday (Saturday) in the Saudi market," said Samer Al-Jaouni, general manager of Middle East Financial Brokerage Co.
Among the decliners the media sector, a decline by 2.31 percent, losing 33.14 points, followed by the insurance sector was down by 2.06 percent losing 18.59 points, while the industrial investment sector fell by 2.02 percent losing 90.15 points.
In contrast, Halawani shares rose by 6.61 percent up to 38.7 riyals price, followed by Al Othaim share by 5.04 percent. AlRiyad Bank shares was in the green list up by 0.74 percent to 27.2 riyals, continuing it rises for the second round respectively.
