AlJazira Capital has stated that the Saudi bourse’s benchmark TASI managed – as was expected – to rebound to the 20-day average at 11009 pts. However, it failed to close above this area amid a decline in turnover.
The research firm expected the index to bounce between gains and losses throughout the day in a bid to close above its averages.
TASI snapped a four-day decline on Tuesday, rising 0.55% or 60.62 points to close at 10993.35 pts compared with 10932.73 pts on Monday.
However, trading activity lost momentum. Turnover decreased 13.08% from SAR 9.88 billion on Monday to SAR 8.59 billion. This turnover is 20.99% lower than the weekly average of SAR 10.87 billion and 21.29% below the monthly average of SAR 10.9 billion.
Trading volume also fell 1.54% from 292.45 million shares to 287.96 million shares. This trading volume is 14.46% lower than the weekly average of 336.6 million shares and 13.71% below the monthly average of 333.69 million shares.
The research firm expected the index to bounce between gains and losses throughout the day in a bid to close above its averages.
TASI snapped a four-day decline on Tuesday, rising 0.55% or 60.62 points to close at 10993.35 pts compared with 10932.73 pts on Monday.
However, trading activity lost momentum. Turnover decreased 13.08% from SAR 9.88 billion on Monday to SAR 8.59 billion. This turnover is 20.99% lower than the weekly average of SAR 10.87 billion and 21.29% below the monthly average of SAR 10.9 billion.
Trading volume also fell 1.54% from 292.45 million shares to 287.96 million shares. This trading volume is 14.46% lower than the weekly average of 336.6 million shares and 13.71% below the monthly average of 333.69 million shares.
Source:
Mubasher
