By Thabet Shehata
Riyadh-Mubasher: Tadawul All-Share Index (TASI) lost 81 points or 1.27% to close Monday at 6,288.3 level.
The index is moving in a medium- and long-ter downward trend and a short-term upward trend , technical analyst Ahmed Al-Maliki said.
He added that the bourse’s decline may be due to profit-taking and falling oil prices, noting that the initial public offering of medical services provider MEAHCO has pressured the market’s liquidity in the recent period.
The telecom sector was the sole advancer, rising 1.48%. The hotels and petrochemical industries sectors led decliners, falling 3.3% and 2.65%, respectively.
Turnover reached SAR 5.4 billion ($1.44 billion), rising 4.65% compared with SAR 5.16 billion ($1.38 billion) on Sunday. Traded volume also increased by 12.8% from 293.7 million shares to 343.2 million shares.
Alinma Bank was the most active in terms of traded value, accounting for 12% (SAR 642.27 million) of the total turnover. The stock fell 1.26% to SAR 13.35.
“Outlook for the market is still cautious as long as it fails to close above the 6,452 level for two days and amid a rise in liquidity to more than SAR 7 billion,” the analyst said.
Takaful Al-Rajhi was the biggest loser of the day, falling 7.35% to SAR 21.3. Meanwhile, Medgulf was the top gainer, rising 9.9%. Mobily and Zain rose 5.05% and 3% in a row.
Translated by Abdul Maguid Aboshahla
