By Mohammed Abu Meleeh
Riyadh-Mubasher: Saudi Arabia’s stock exchange maintained its winning run for the third straight month, jumping 2.06% or 145.09 points, its biggest gain in points since 9 September.
Sectors rose across the board, topped by real estate development which climbed 3.34% though companies are awaiting the final approval on undeveloped land tax which will be reflected positively on the sector.
Emaar EC surged 9.52% to SAR 9.55 as the Economic Cities Authority said the real estate developer will keep its land in King Abdullah Economic City (KAEC), and corruption charges in question will be investigated and violators will be prosecuted.
Turnover increased by 2.6% from SAR 5 billion to SAR 5.13 billion, while traded volume rose by 15.8% from 228.8 million shares to 265 million shares, exchanged in 101,800 transactions.
Wrapping up equities, gainers outperformed losers 157 to 7. Tokio Marine was the top gainer, rocketing 9.95%, while SASCO was the was the big drag with a loss of 1.32%.
Translated by Abdul Maguid Aboshahla
