By Majid Al-Shabib
Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) strengthened on Tuesday, as the main index registered its biggest one-day gains in around five weeks, and amid a semi-collective rise in sectors.
The main gauge, or TASI, rose by 1.46% - the biggest percentage since early March – or 92 points to close at 6,403.6 points.
The Saudi bourse, along with other GCC markets, delivered a bullish performance after oil prices moved back again above $41 per barrel, said technical analyst Abdullah Al-Rashid.
He also said the corporate financial results announced so far beat forecasts and thus boosted investor sentiment.
Sectors were in green, except for real estate and petrochemical industries that were marginally lower.
The cement sector was the biggest gainer (+5.35%), while banks added 2.2% and telecommunication gained 0.72%.
154 stocks moved higher, topped by Enaya (+10%), then Najran Cement (+9.96%). Al Rajhi Bank and NCB pulled ahead by 2.11% and 1.1% respectively. STC advanced by 0.4%.
Meanwhile, 13 other stocks moved lower, led by JAZADCO (-4%), then Aseer (-3.55%). SABIC shed 1.9% and Jabal Omar tailed the list with a decline of 0.12%.
Today’s traded value amounted to SAR 5.9 billion ($1.57 billion), which is the biggest level in 15 sessions.
Translated by Sayed Abdel Rahman
