By: Aseel bin Taleb
Riyadh-Mubasher: Saudi Stock Exchange (Tadawul) reversed the bearish performance it maintained for five successive sessions on Thursday.
The general index fell 1.06% or 70 points to close at 3,656.41 points.
Closure of the index above 6,660 points is a positive signal, especially after the market managed to maintain its early gains at close amid profit-taking, technical analyst Badr Al-Rouki said.
The market saw trading of 317 million shares through 115,000 transactions, with a turnover of SAR 5.6 billion.
The petrochemical sector rose 2.36%, while the banking sector went up 1.33%.
Saudi Kayan Petrochemical topped gainers after adding 7.92%, followed by Saudi Enaya Cooperative Insurance and Petro Rabigh at 6.93% and 4.36% in a row.
Zoujaj was the worst performer after falling 2.93%, followed by Mouwasat Medical Services and Gulf General Cooperative Insurance at 1.84% and 1.04%, respectively.
Al Inma Bank was the most active stock after generating 68.8 million shares through 7,300 transactions.
The market is expected to maintain its level above at 6,600 points as it targets to reach higher performance, Al-Rouki added.
Tadawul is likely to see a negative performance if it goes below 6,525 points, the analyst noted.
