Tadawul All-Share Index (TASI) extended its downtrend for the fourth day in a row, plunging 1.42%, or 154.31 points, to 10720.51 compared with 10874.82 on Monday. Thus, the index lost the most since June 16 when it declined 1.99% or 193.81 pts.
TASI dropped 360.4 pts or 3.25% in the past four sessions; thus it lost 27.1% of the gains (1331 points) achieved since the announcement of opening up the market for foreigners on August 21.
Real Estate Development was the only sector that headed north today, rising 0.3%. This sector got a boost from Makkah Construction and Jabal Omar which advanced 0.18% or 3.40%, respectively. Meanwhile, the remaining 14 sectors headed south, led by Hotel & Tourism and Cement which declined 2.98% and 2.38%, respectively.
Turnover increased 14.4% from SAR 9 billion on Monday to SAR 10.33 billion. Today’s turnover is 17.25% higher than the weekly average of SAR 8.8 billion but 3.28% below the monthly average of SAR 10.7 billion.
Trading volume also grew 19.6% from 279.2 million shares to 333.9 million shares. Today’s trading volume is 22.77% higher than the weekly average of 271.95 million shares and 0.06% above the monthly average of 333.7 million shares.
Wrapping up stocks, decliners outnumbered advancers by 140 to 15. Jabal Omar led the way on gains, rising 3.4%, followed by Sharqiya Development (+3.23%) and Mubarrad (+2.01%).
On the black side, Wafa Insurance was the major disappointment, taking a dive of 5.74%, followed by Northern Cement (-5.51%) and SIDC (-5.23%).
The leading real estate developer Dar Al Arkan was the most active in terms of turnover and trading volume, after 64.71 million shares were exchanged at a traded value of SAR 860.5 million.
(Written by Mohammed Abu Meleeh; Translated by Abdul Maguid Aboshahla )