Sept. 30--JEDDAH -- Saudi stock market continued its negative movement and fell for a fourth consecutive session Sunday.
The Tadawul All-Share Index (TASI) ended lower at 7,949.81, trimming 0.39 percent or 31.26 points for the entire day. The index performed within a range of 48. 6 points, reducing its year-to-date (YTD) 2013 gains slightly to 16.89 percent.
Among market cap indices only Micro cap was able to close a little higher. Most of the sector indices finished to the upside but with low gaining margin, accumulating an aggregate of 140 points.
On the negative side, seven sectors lost 315.7 points for the day. Telecommunication & Information Technology sector posted the largest losses, falling more than one percent to close at 2,501.90. Saudi Telecom suffered worst of all heavyweights, turning down 1.38 percent. However, SABB rose half percent to close the day at SR 39.
Market breadth was largely negative, whereby 28 symbols closed in green and 116 closed in red, while 13 remained unchanged.
After a gap of one session, Saudi Indian Company for Co-operative Insurance (Wafa Insurance) regained its topping position at Tadawul, reflecting an increment of SR7.75 or 9.81 percent. Taiba Holding Co. was another key gainer, achieving a growth of 6.73 percent.
On the contrary, Gassim Agricultural Co. topped the decliner chart, closing the day 3.41 percent lower.
Tadawul turnover again went down and traded 166.6 million shares as compared to previous day's 190.6 million shares.
Liquidity also shrank to SR4.4 billion, roughly 20 percent lower than the 50-day average level.
Only Knowledge Economic City turned green among most active stocks, advancing over two percent and contributing 8.2 percent to the overall market volume.