Real estate sector remains at top

The Saudi stock market sustained its upward march yesterday, closing the day with balmy gains. The Tadawul All-Share Index (TASI) bouncing between green-red within a range of 47.5 points edged higher by 0.3 percent to 6,708.01 points. It went 26.5 points above and 21 points below the break-even line during the day. Most of the major sectors closed in the green territory, showing a collection of 274 points. Only three sectors including Media and Publishing ended in red, paring 71.3 points jointly. Real Estate Development sector remained at top showing an increase of 1.63 percent to 3,228.37 from 3,176.45. Insurance sector followed it, advancing by 1.16 percent. Market breadth was positive, whereby 86 symbols closed in green and 47 closed in red, while 22 remained unchanged. Insurance stocks led the top gainer and loser charts at Tadawul, with Amanah Cooperative Insurance traded in the green zone for the third consecutive day, surging 9.97 percent further to close at SR193. ACE Arabia Cooperative Insurance, on the contrary, delivered a largely negative performance for the second straight day, slipping 9.3 percent further. Saudi Arabian Fertilizers Co. (SAFCO) showed the best performance among heavyweight stocks, rising by 0.75 percent to close the day at SR 201.25. On the negative side, Kingdom Holding turned red, going down by 1.44 percent. Investors' confidence restoring at Tadawul, as the volume of shares traded increased by 22.2 percent to reach 263.3 million shares. In addition, the value of shares traded increased by 17.2 percent over the previous day's value. From : Arabnews