Real estate sector shows 2.3% increase

The Tadawul All-Share Index (TASI) while reflecting a 3-day fall during the week, closed at 6,628.26 points last week, trimming a nominal of 31.32 points or 0.47 percent for the entire week. Its weekly trading range narrowed to 147 points as compared to previous week's 244 points.
TASI's year-to-date gains reduced further to 3.3 percent.
The market capitalization of Saudi stock exchange decreased slightly (-0.2 percent), reaching at the previous week's level of SR1.31 trillion.
Market breadth with advance-decline ratio of 0.53:1 remained negative. However, upside-downside volume ratio of 1.2:1 was positive.
Five out of Tadawul's 15 sectors witnessed a positive change. Remaining twofold sectors closed in downward territory, paring an aggregate of 553 points for the entire week.
Real Estate sector performed well relatively, rising 2.3 percent for the week to close at 3,354.27 points. It also showed a year-to-date collection of roughly 650 points or 24 percent, which is second highest amongst all Saudi sectors.
The Insurance sector switched its position from top performer of previous week to the worst performing sector of the week, down 3.32 percent. Cement sector followed it, declining by 2.73 percent for the week.
Heavy weights logged a mixed weekly performance. The losses made by the Riyad Bank (-1.93 percent) and Rajhi Bank (-1.72 percent) being offset by rise in SABB (+1.54 percent) and Samba Financial Group (+1.35 percent).
National Agriculture Marketing Co. (THIMAR) and SALAMA Insurance were key gainers of the week, surging by 16.7 percent and 10.26 percent respectively.
On the other hand, Enaya Insurance performed worst for the third consecutive week, topping the weekly decliner chart with 15.7 percent negative change. It sank nearly 41 percent in three weeks, reducing from SR73.25 to SR43.
Dar Alarkan Real Estate appeared to be the most active stock of the week, which liquidated more than 318.5 million shares, capturing 22.4 percent of the overall market volume. It also jumped to 7.98 percent among top performers of the week, ranked fourth.
Among all benchmark indices at GCC stock markets, DFM index remained at top, dug in at 1,535.71 and finished the week up roughly 3 percent.
The benchmark GulfBase GCC General Index ended the week at 3,781.1 points level, losing 15.36 points or 0.4 percent for the entire week.