Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) closed Monday 0.56% or 39 points higher, reaching 6,976.97 points.
TASI’s trading volume stood at 141.5 million shares, through 74,600 transactions, generating SAR 2.9 billion.
The insurance sector rose 0.97% as Salama Cooperative Insurance’s stock surged 9.8%, closing at SAR 26.45, with a turnover of SAR 65.3 million, followed by Saudi United Cooperative Insurance’s (Walaa) stock with 6.7% to reach SAR 29.5.
Trade Union Cooperative Insurance Co.’s stock increased 6.2%, closing at SAR 22.9.
The banks sector inched up 0.17% backed by the 5.1% growth of Al Inma Bank’s stock to reach SAR 18.12.
The materials sector went up 0.41%, whereas the telecommunication services sector shed 0.48%.
TASI's benchmark index is weak on the short-term, has a resistance level at 7,160 points, and after exceeding the resistance level it aims rising to 7,400 points, economic analyst Safaa Fares told Mubasher.
TASI’s support level is at 6,890, targeting to break below 6,780 points, Fares added during a phone interview with Mubasher.
The utilities sector was the best performer with 1.68%, whereas the real estate management and development sector led losers with 0.75%.
In the meantime, the main index of the Nomu-Parallel Market, NOMU, levelled up 2% or 59.3 points to reach 3,029.65 points.
Development Works Food’s stock topped Nomu’s risers after surging 12.4%, closing at SAR 61.5, whereas the stocks of Al-Kathiri Holding Company, and Arab Sea Information System fell 2.06%, and 1.29%, respectively.
