Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) benchmark index, the Tadawul All Share Index (TASI), settled lower by 0.02% or 1.29 points at Wednesday’s close, settling at the level of 7,328.09 points.
A total of 264.52 million shares were exchanged through 268,000 transactions at a turnover of SAR 5.4 billion.
The banks' index headed the declining sectors with 0.63%, whereas the telecom sector topped the gainers the 0.95%.
Commenting on the bourse's performance, member of the Saudi Economic Association Saad Al Thaqfaan told Mubasher that the banking sector has marginally weighed on TASI today due to several factors, namely the annual drop in April’s consolidated profits by around 40%, HSBC’s cut of future price targets for Saudi banks, and expectations of lower divined payment this year.
Tabuk Agricultural Development Company led the rising stocks with 8.62%, whereas MEFIC REIT Fund headed the falling stocks with 3.91%.
Dar Al-Arkan Real Estate Development Company led the trading activity through the exchange of 21.03 million shares, while Al Rajhi Bank posted the highest turnover of SAR 445.76 million.
