By Majid Al-Shabib
Riyadh-Mubasher: Tadawul All-Share Index (TASI) lost as much as 1.29% or 77 points to close Sunday at the 5,900 level.
Turnover plunged nearly 24% to SAR 4.8 billion, while traded volume reached 275 million shares.
The real estate sector accounted for 26% of the market's total traded value, boosted by Al Andalus which captured 15.5% or SAR 754 million of the total turnover.
The main index is near its key support levels of 5,876 and 5,833 points, Ahmed Al Maliki, technical analyst, told Mubasher, noting that maintaining such levels will push the index higher to target the 6,120 and 6,288 levels.
He added that Al Andalus' high traded value near the resistance areas gives a potential correction signal if the stock fails to close above SAR 22.80.
The media sector was sole advancer on Sunday, rising 1%. Meanwhile, the transport and multi-investment sectors led decliners, dropping 2.5% and 2.3%, respectively.
Al Maliki said the transport sector is expected to see more pressures, noting that correction will be confirmed if the sector breaks the 6,095 level.
Crossing the 6,444 level for two days will signal positive outlook for the sector in the short term, the analyst said.
Wrapping up stocks, 25 moved higher, topped by Tihama and Wafa Insurance which soared 9.71% and 9.54% respectively.
On the negative side, 142 stocks moved lower, led by SIIG which slumped 5.5%.
Translated by Abdul Maguid Aboshahla
