Retail stocks tumble 2.34%

Saudi Arabia’s benchmark Tadawul All-Share Index (TASI) passed through a lean session Monday, shedding more than 66 points.
The index fell to 8,059.21 points, showing a further reduction of 0.81 percent for the entire day. It plunged to a maximum 80 points from the level of opening bell yesterday. On year-to-date basis, it showed a yield of 18.5 percent.
All market cap indices finished to the downside, with Small Cap going down more than one percent.
Only Multi-Investment and Insurance sectors showed a positive change among sectoral indices, accumulating 27.7 points jointly. Remaining 13 sectors ended in the downward territory, trimming an aggregate of 1,071.3 points.
Retail came out as major declining sector, tumbling 2.34 percent to close the day at 11,575.11. Hotel & Tourism sector also continued its downward fall, declining by 293.9 points or 1.99 percent.
Most of heavyweights slipped from previous day’s level, with Samba Financial Group dipping by 1.94 percent and SABB 1.27 percent. However, Kingdom Holding ended positively among top ten large caps, growing by 1.23 percent and closing at SR20.5.
Market breadth with advance-decline ratio of 0.35:1 remained extremely weak. Allied cooperative insurance group (ACIG) showed the best performance among all Saudi stocks, surging by 9.96 percent to close at SR 28.7.
On the other side of the spectrum, Fawaz Abdulaziz Alhokair company suffered the greatest amount of damages, turning down SR 8.0 or 5.6 percent for the day.
Share trading activity remained high as compared to previous day; turnover went up by 13.7 percent in terms of volume and 11.8 percent in terms of value. But Tadawul turnover still remained below the 50-day average level.
More than 187 million shares worth SR4.6 billion changed hands on the Saudi stock market.