By Majid Al Shabib
Riyadh – Mubasher: The Saudi Stock Exchange, or Tadawul, strengthened on Thursday to continue the bull run for the fourth straight day, fueled by the rebound of oil prices.
The main index rose by as much as 1.4% to close at 5,884 points.
Brent crude price jumped on Wednesday by more than 7% after Iran backed a deal reached by Russia and Saudi Arabia to freeze oil output.
Tadawul’s liquidity reached SAR 6.2 billion, after 336 million shares changed hands in 148,000 transactions.
The petrochemical industries sector dominated SAR 1.2 billion 19.3% of today’s liquidity. The banks sector controlled 19%, or SAR 1.19 billion, followed by insurance with 10%.
Sectors were in green, except for agriculture that inched lower by 0.01%. The petrochemical industries sector topped the green list with a rise of 2.2%. It was followed by real estate development (+2.2%) then insurance (+2%).
143 stocks moved higher, spearheaded by Farm Superstores, Maadaniyah and Buruj Insurance that soared by 10% each.
Meanwhile, 19 other stocks moved lower, led by ACE Insurance (-2.3%), the Wataniya (-2.2%) and Al-Tayyar (-1.4%).
Translated by Sayed Abdel Rahman
