Riyadh-Mubasher Exclusive: Tadawul All Share Index (TASI) fell last week by 0.87% or 73.37 points to end at 8320.55 points, compared with 8393.92 points a week earlier.
Thus, the market extended its fall for the fifth straight week.
The weekly decline came despite the record rises seen during Wednesday and Thursday by 13.5% or 990.25 points. However, such gains came after a drop for eight successive sessions in which the index lost 18.17% or 1627.33 points.
During the week, 11 sectors moved lower, while 4 moved higher. Banks was the top gainer (+2%), followed by telecommunications (+1.38%), energy (+1.07%) and petrochemical industries (+0.40%).
Meanwhile, insurance was the biggest drag (-12.5%), followed by media (-11.81%) and industrial investment (-11.31%).
Tracking stock performance, Saudi Hollandi was the best performer (+13.54%), followed by Bank Albilad (+8.56%) and Yansab (+7.53%).
On the negative front, four insurance companies were the biggest losers; Sagr (-29.7%), Malath (-28.31%), United Insurance (-19.5%) and Walaa (-26.2%).
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters