By Majid Al-Shabib
Riyadh-Mubasher: Saudi Stock Exchange’s (Tadawul) benchmark gained 14 points or 0.23% to close Sunday at the 6,369 level.
Turnover reached SAR 5.15 billion - its lowest in 10 sessions - after 293.7 million shares were exchanged in 119,000 transactions.
The insurance sector dominated 18.7% (SAR 965 million) of the total liquidity, followed by the banking with 16% (SAR 829.3 million). The petrochemical industries came third with 14.1% (SAR 732 million).
Closing below the 6,400 level will push the market to profit-taking, which is expected to take place soon as the index rose more than 850 points without witnessing any cash-ins, technical analyst Amer Al-Fahd told Mubasher.
He added that the technical resistance barrier stands near 6,000 and 5,850 points.
Rounding up sectors, 10 moved higher, topped by the telecom which added 2.6%. The sector got a boost from Mobily which hit its highest since January 2016.
Meanwhile, five sectors moved lower, led by the hotels and banks which fell 1.4% and 0.8%, respectively.
Tracking stock performance, risers outnumbered fallers by 123 to 5. Al Jazira Takaful was the best performer of the day, adding 9.88% to SAR 34.60. Meanwhile, Solidarity was the biggest drag, falling 4.99% to SAR 8.75.
Translated by Abdul Maguid Aboshahla
