By Mohammed Abu Meleeh
Riyadh-Mubasher: Tadawul All-Share Index (TASI) rose 0.68% or 43.4 points to close at 6,430.87, its highest since 6 January.
Technical analyst Ahmed Al-Ghamdi said the market was boosted by a rise in oil prices through the bourse was expected to see profit-taking.
Brent rose $2.12 to $40.84 a barrel, its highest since 9 December. Meanwhile, crude futures increased $27.10 cents to $37.90 a barrel.
"It is better for the market to see cash-ins as the strong rises are usually followed by negative consequences," Al-Ghamdi said.
He added that the index will face key support levels at 6,000 and 5,900 points in the short-term.
Tuesday's rise was accompanied by a robust trading activity as trading volume reached 413 million shares, its largest since 18 January. Turnover fell to SAR 6.9 billion from SAR 7 billion.
The media was the sole decliner, falling 0.18%. Meanwhile, the petrochemical industry and multi-investment topped advancers, rising 1.62% and 1.61%, respectively.
Translated by Abdul Maguid Aboshahla
