TASI sheds 74 pts in week ahead of Eid holiday

TASI sheds 74 pts in week ahead of Eid holiday
TASI dropped 74 points to 8,270.46 points in the week ended 12 June

Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) closed in the red during the week ended on Tuesday, 12 June after dropping 73.9 points, or 0.89%, reaching 8,270.46 points.

TASI’s trading volume tumbled 58% to 329.4 million shares during the three-day week from 789.3 million shares in the week before. The week's average traded volume fell 58% to 65.8 million shares.

The bourse’s liquidity plunged 60% to SAR 7.99 billion ($2.1 billion) this week from SAR 19.89 billion ($5.3 billion) in the week earlier. Turnover averaged SAR 1.6 billion ($426 million) per session.

The telecommunication services sector decreased 3.3%, followed by the consumer durables and apparel sector with 3.09%, banks with 0.77%, and materials with 0.59%.

On the other hand, the energy sector rose 3.28%, while the commercial and professional services increased 1.3%.

The Eid Al-Fitr holiday for Tadawul commenced on Wednesday, 13 June with trading activities set to resume on Wednesday, 20 June.