By Assil bin Talib
Riyadh-Mubasher: Tadawul All-Share Index (TASI) rose as much as 1.94% or 116 points to reach the 6,092 level at Sunday’s close.
Rayan Al-Kharashi, capital market expert, said the bourse’s rally came after a remarkable rise in oil prices and global stock markets at the end of last week, which reflected positively on investors’ sentiment in the short-term.
“Investors are currently anticipating the first-quarter corporate financials which will be released in less than one month, and then the vision will become clearer,” Al-Kharashi said.
He added that the exchange is likely to witness healthy profit-taking from 6,100 to 6,200 points.
A total of 277 million shares were traded through more than 121,000 transactions at a total turnover of more than SAR 5 billion.
Rounding up stocks, 162 moved higher, spearheaded by Electrical Industries which soared 9.98% to SAR 28, followed by MEPCO which climbed 9.94% to SAR 19.9. Meanwhile, four stocks moved lower, led by Qassim Cement which dropped 2.19% to SAR 64. Metlife AIG ANB had the second-worst showing, with a loss of 0.72% to SAR 41.
As for sectors, all rose across the board, topped by the petrochemical industries which jumped 3.2%. The banking and telecom sectors also gained 1.02% and 1.06% in a row.
Translated by Abdul Maguid Aboshahla
