Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) saw a negative performance in the second week of 2017, recording its lowest downward trend in around four months, as sectors witnessed a group decline accompanied by a decrease in traded values.
Tadawul All Share Index (TASI) lost 3.85% or 277 points this week, its biggest loss since late September, and closed at the level of 6,921.77 points.
Market capital also declined to SAR 1.619 trillion ($431.77 billion) compared to SAR 1.681 trillion ($448.28 billion) by the end of last week, with a shrinkage of SAR 61.89 billion ($16.50 billion).
Traded values went down by 17% to SAR 20.7 billion ($5.5 billion) from nearly SAR 25 billion ($6.55 billion) last week.
Traded volumes also shrank by 17.8% in the second week of January to 1.15 billion shares compared to 1.4 billion shares in the week before.
As for the sectors performance, all closed in red except for REITs which saw a noticeable rise by 6.31% as Riyad REIT closed at SAR 11.8.
The telecom sector fell by 8.6%, followed by utilities with 6.1%, materials with 3.8%, banks with 3.8%, and insurance with 1.28%.
As for the stocks performance Buruj Cooperative Insurance was the biggest decliner and dropped 18.2% to SAR 22.37.
Meanwhile, Al Rajhi lost 0.57% and closed at SAR 62.58, while Al Ahli decreased by 6.52% to SAR 39.58, while STC plumped 6.1% and closed at the level of SAR 65.07.
On the other hand, Al Sorayai Group led the gainers and surged 21.7% to SAR 14.18, whilw SABIC added 0.19% and closed at SAR 92.69.
Alinma was the most active in trade this week, with a volume of 122.68 million shares and a turnover of SAR 1.79 billion, it closed at SAR 14.27, falling by 5.56%.
