TASI edging higher to increase the gains to 71 points since the beginning of the year
Saudi Market Daily Commentary
Saudi Basic Industries Corp. (SABIC) rose 1.2 percent, rebounding from Saturday’s three-week low, and other bluechips also shrugged off initial declines to end higher. On Wednesday, SABIC made its largest decline in five months after its fourth-quarter profit missed estimates.
The Tadawul All-Share Index (TASI) ended at to 6,692.31 points, after gaining 0.06 percent. The sector activity for the day was all positive except two losing sectors. The gaining sectors ranged from 0.05 percent by the agriculture and food industries sector to 1.96 percent by the industrial investment sector. On the other hand the losing sectors for the day were the Retail sector with -0.02 percent and the insurance sector with -0.10 percent.
The overall market breadth for the day was positive with 88 advancers against 37 decliners giving it an AD ratio of 2.37, he Financial Transaction House (FTH) said in its daily market commentary..The stock market reached SR3.14 billion on Sunday.