16/02/2011
TASI falls; Dubai stock index up
Saudi Arabia’s Tadawul All-Share Index (TASI) fell 0.27 percent to 6,606.05 on Tuesday. The sector activity for the day was mostly negative with 10 out of 15 closing with lose ranging from 0.04 percent by the Insurance sector to 0.68 percent by the Industrial Investment sector. On the other hand the gaining sectors ranged from 0.16 percent by the Cement sector to 0.76 percent by the Media and Publishing sector.
The overall market breadth for the day was negative with 53 advancers against 64 decliners giving it an AD ratio of 0.82, the Financial Transaction House (FTH) — licensed by the Capital Market Authority (CMA) — said in its daily market commentary..The liquidity for the day reached SR3.12 billion.
Al-Rajhi Bank dropped 0.6 percent. Samba Financial Group and Riyad Bank each lost 0.4 percent.
Atheeb Telecom, an affiliate of Bahrain Telecommunications Co. (Batelco), rose 0.4 percent after the fixed line provider said it filed a lawsuit against Saudi Telecom Co.(STC) for violating regulatory and anti-monopoly laws. STC dropped 0.5 percent.
As for Dubai's du hit a 15-month high on Tuesday after the telecoms operator said it would pay lower-than-expected royalty fees, potentially doubling its 2010 post-tax profits.
The Abu Dhabi index climbed 0.2 percent to 2,716 points.
The Kuwait index dropped 0.1 percent to 6,651 points.
The Qatari index rose 0.5 percent to 8,981 points.
