Closing Bell: TASI plunges 108 points as capital goods index plummets by 4%

Closing Bell: TASI plunges 108 points as capital goods index plummets by 4%

RIYADH: Saudi Arabia’s Tadawul All Share Index fell 108.30 points on Sunday to close at 10,138.31, dragged by the bearish wave in the capital goods, consumer durables and apparel sectors. The Capital Goods Index fell 216.36 points or 3.98 percent to close at 5,213.3 points. The index declined 12 percent over the last month since Nov.10, when it ended at 5,967.17. Likewise, on Sunday, the Consumer Durables and Apparel Index fell 3.49 percent to finish at 4,214 points, while the Real Estate Management and Development Index tumbled 2.94 percent to wind up at 2,566.97 points. Besides the real estate investment trusts, the utilities also bucked the trend. The Utilities Index rose 126.72 points to close at 6,715 points, buoyed by ACWA Power which increased 4.3 percent to cease at SR138 ($36.70). The company last Thursday signed a series of agreements with nine Chinese entities, laying the ground for financing and constructing its renewable energy projects in Saudi Arabia and Belt and Road Initiative countries. However, the parallel market Nomu on Sunday declined 232 points to stop at 18,534.86. The advance-decline ratio of the benchmark index also took a huge hit, with 183 stocks of the listed 219 dropping while 27