The Saudi stock market drifted in lackluster mode on Thursday due to a lack of any immediate triggers. Insurance stocks, favored by local retail investors, accounted for the top decliners.

 

The benchmark Tadawul All Share Index (TASI) closed 0.1 percent to 6,938 with trading turnover dropping to SAR 2.9 billion.  

 

Other sectors too closed mostly in the in the negative with energy and banks leading the losses. Among blue chips, SABIC rose slightly while Al Rajhi Bank slipped.  

 

Elsewhere, Jarir, Savola, Banque Saudi Fransi, Dar Al-Arkan and Yamama Cement all fell between 1 and 3 percent. 

 

Ajazira Takaful fell 1.5 percent to SAR 28.10 as the stock went ex-dividend. 

 

In contrast, Nadec jumped 7 percent to SAR 30.30. Almarai, which saw its highest closing price in the previous session, added 0.7 percent.

 

Alujain extended gains; adding another 6 percent to SAR 25.50, its highest close since October 2014. The stock has gained 15 percent in the past few sessions.

 

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

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Quotes

NADEC
23.82
(0.18) (0.75%)
ALRAJHI
93.50
0.50 0.54%
BSF
31.20
0.00 0.00%
YC
31.30
(0.35) (1.11%)
ALMARAI
52.70
(0.20) (0.38%)
ALUJAIN
36.95
(0.70) (1.86%)
SABIC
69.70
(0.20) (0.29%)
SAVOLA GROUP
24.26
(0.32) (1.30%)
JARIR
12.72
(0.04) (0.31%)
DAR ALARKAN
16.80
0.08 0.48%
JAZIRA TAKAFUL
16.00
(0.06) (0.37%)


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