By Asil bin Taleb
Riyadh – Mubasher: Saudi Stock Exchange, or Tadawul, rose by 0.72%, or 45 points to close Thursday’s session at 6,258 points.
The market is likely to face a key resistance at 6,300 points, said Abdullah Al-Jabali, technical analyst, adding that a break above such a barrier would take the index higher towards 6,450 points.
“However, failing to stay above 6,300 points will drive the index lower towards 6,100 points and then 5,800 points,” added the analyst.
Thursday’s traded volume amounted to more than 255 million shares, exchanged in 120,000 transactions at turnover reaching SAR 4.7 billion.
112 companies moved higher, 48 others moved lower and 8 remained unchanged.
13 sectors were in green, topped by agriculture (+2.10%), followed by telecommunication (+1.74%), then petrochemical industries (+1.17%). Transport and media slipped by 2.31% and 0.33% respectively.
Chemanol was the best performer (+8.35%), followed by Al Sorayai (+5.87%) and Nama Chemical (+4.85%).
On the negative front, Amana for Cooperative Insurance was the biggest drag (-6.21%), followed by Bahri (-4.16%) and Al Ahlia Insurance (-4.1%).
Alinma Bank came on top with a traded volume reaching 50.4 million shares, while Wafa Insurance recorded the biggest number of transactions reaching 13,700.
Translated by Sayed Abdel Rahman
