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Tadawul down 5.4% in week

Tadawul down 5.4% in week
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Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) recorded losses during the week that ended 16 April, after rising for three consecutive weeks.

The Tadawul All Share Index (TASI) lost 5.35% or 374.55 points and closed at 6,631.69 points, compared to its level at 7,006.24 points by the end the week before.

Most of the market sector witnessed a decline this week, except for the software index that gained 9.7%.

Commercial services dropped by 7%, followed by banks and media with 6.9% and 6.8%, respectively.

The materials and energy index plunged by 5.8% each.

Market capitalization went down by 6.12% or SAR 494.51 billion ($131.87 billion), as it closed the week at SAR 7.579 trillion ($2.02 trillion).

Traded volumes also decreased by 30.4% to 878.47 million shares, while turnovers fell by 31.7% to SAR 17.44 billion, compared with SAR 25.52 billion in the previous week.