Insurers buck Tadawul bourse setback

September 2, 2014 5:55 pm

Shares in Riyadh lost across the board on Tuesday, September 2, sending the Saudi market index TASI down by 0.63 per cent to close at 11,048.19 points. Forty-nine shares advanced, while 90 closed lower.

SABIC closed insignificantly lower at SAR132.75.

Sharquiya Development Company advanced the most, finishing 9.97 per cent higher at SAR127. Abdullah A. M. Al-Khodari Sons Company lost the most, ending down 3.83 per cent at SAR66. The Al-Khobar-based construction firm gained 87 per cent in the last 12 months, clearly outperforming the market gauge TASI which added 43 per cent in the same period.

The insurance sector and the hospitality segment were the sole sub indices which gained value. WAFA Insurance and Sagr Insurance gained 9,87 per cent and 4.92 per cent, respectively.

Gerard Al-Fil