TASI pares losses, closes flat

14/03/2017 Argaam
by Brinda Darasha

Saudi Arabia’s stock market closed flat with a positive bias on Tuesday, paring intraday losses.

 

The benchmark Tadawul All Share Index (TASI) closed at 6,791 with trading turnover at SAR 3.7billion. The market saw 94 stocks advancing against 74 decliners.

 

Sectors closed mixed with retailing and commercial services rising and petrochemicals and banks declining. However, blue chips SABIC and Al Rajhi Bank supported with small gains.

 

Aljazira REIT was top gainer, up 7 percent to SAR 20.30.

  

Meanwhile, Altayyar Travel Group jumped 5.5 percent to SAR 31.50 as more than seven million shares changed hands.

 

National Gypsum added nearly 2 percent to SAR 13.45. The company has recommended distributing a 5 percent cash dividend for fiscal year 2016.

 

Elsewhere, Saudi Arabia Refineries Co. which dropped 9.8 percent yesterday, fell another 3.5 percent to SAR 33.60. The company’s board has recommended a dividend freeze  for 2016.

 

Write to Brinda Darasha at brinda.d@argaamplus.com

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