After losing less than 10 points earlier yesterday, the Tadawul All-Share Index (TASI) closed higher at 6,878.19, up 55.33 points or 0.81 percent for the day. On Year-to-date basis, it showed a yield of 7.17 percent.
Sectoral performance was tremendous, as 13 out of the 15 sectors closed in the upward territory, accumulating 610 points collectively.
Insurance and Transport were best performing sectors of the day, surging by 2.6 percent and 2.4 percent respectively.
Only Telecom and Media sectors could not manage for gains, shedding over 0.87 percent and 0.68 percent respectively. Market breadth with advance-decline ratio of 3.4:1 remained extremely strong.
The heavyweights SABIC (Saudi Basic Industries Corp.) and Samba Financial Group outperformed for the second straight day, advancing 1.4 percent and 1.08 percent respectively.
Insurance stocks led the top gainer chart at Tadawul, with SALAMA insurance, Allied Cooperative Insurance and ACE Arabia Insurance, rising by 9.9 percent for the day.
Amana Insurance, which also shifted from top decliner chart to top gainer chart showing an increase of 9.87 percent, ranked fourth.
Insurance sector appeared to be the most active sector at Tadawul. Its more than 63.8 million shares were traded yesterday, showing a 23 percent relative market share.
From : Arabnews