TADAWUL: Real estate stocks advance 1.36%

The Tadawul All-Share Index (TASI) dug in at 8,143.75 and ended its yesterday’s trading up slightly by 0.13 percent.
Spending most of the session in the downward territory, it took a sharp uplift just before the closing bell, gaining more than ten points. It wavered within a trading range of 49.2 points yesterday.
Sectoral indices performed in a mixed fashion, with nine sectors reflecting an accumulation of 363.2 points and six sectors shedding 132.6 points collectively.
Real estate development sector advanced 66.03 points or 1.36 percent over the day, posting the biggest gains among all sectors. Retail sector followed it, advancing by 1.1 percent to 11,402.18.
Most of heavyweights finished to the upside, with Saudi Telecom Co. increasing by 0.89 percent, Saudi Electricity 0.75 percent and Riyad Bank 0.71 percent. However, SABIC (Saudi Basic Industries Corp.) ended lower, declining 0.73 percent to close at SR102.75. But the bellwether continued to dominate the value chart, pumping more liquidity (SR 668.9 million) into the market.
Advancing stocks outnumbered decliners by a margin of 82 to 58 and the prices of 17 companies remained unchanged.
Aseer Trading, Tourism & Manufacturing Co. and Emaar the Economic City topped the performance chart at Tadawul, surging up 4.60 percent and 4.24 percent respectively.
Market activity was high, specifically SR 5.8 billion were poured into the market. Trading volume was impressive, with about 277 million shares changed hands in the market, a significant 13.9 percent growth over the previous level. Furthermore, upside-downside volume ratio of 5.8:1 remained largely positive.
Saudi Kayan Petrochemical Company continued its most active status, liquidating over 48.8 million shares and achieving a relative market share of 17.6 percent.