By Majed Alshabib
Riyadh – Mubasher: The Saudi Stock Exchange ended Thursday’s trading session on a positive note.
The main index rose 0.75% to 6,216 points, registering the highest uptrend since 10 January 2016, powered by the petrochemical sector.
Trading value reached SAR 5.4 billion against SAR 5.7 billion yesterday, while trading volume recorded 294 million shares traded over 131,000 transactions roughly. Both the banking and petrochemical sectors accounted for market liquidity by 15% and 14.3% correspondingly.
Technically, the Saudi Stock market is positively performing, although indicators give signs of some degree of weakness, said Abdullah Al Yamani, financial analyst.
Tadawul is likely to stay in the correction territory, if necessary, so as to keep standing at 6,000, Al Yamani added.
Sector-wise, most sectors moved upwardly, excluding the sectors of media & publishing and hotel & tourism that ended the session lower by 0.3% and 0.1% respectively.
On the positive, petrochemical Industries led the advancers by 1.5%. In second place, cement sector rose 1.4%,running bullish for the sixth session in a row as well as achieving the largest rally in two months.
Tracking stock movement, the bourse counted 120 advancing stocks, topped by Ace Arabia Cooperative Insurance, Gulf General, and Alkhaleej Training with a rise of 6.3%, 5.9% and 5.2% respectively.
Meanwhile, the negative front was headed by Aldrees (-4.8%), Hail Cement (-2.5%), and Jazan Development (-1.6%).
Translated by Ahmed El-Sayed Ali
