By Majid Al Shabib
Riyadh – Mubasher: The banks sector pushed the Saudi Stock Exchange (Tadawul) higher on Tuesday to regain its position above the 7,000 level.
The main index rose by 1.6% or 116 points to close at 7,046 points.
Tuesday’s liquidity amounted to SAR 5.5 billion, generated from exchanging 258 million shares in 116,000 transactions.
The index is expected to face a 50-day average of 7,145 points tomorrow, which was not broken higher since mid-July. A break above such a level will push the index further higher.
Sectors were mostly in green, except for insurance that was slightly down.
The agriculture and food industries sector topped gainers, with a rise of 3.1%, followed by banks and financial services (+2.4%) and retail (+2.3%).
147 stocks advanced topped by Saudi Fisheries, Khaleej Training and Anaam Holding.
Meanwhile, 15 other stocks declined led by STC (-1.8%), followed by Shams (-1.8%) and eXtra (-1.4%).
