By: Waleed Abd El-Salam
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) regained its gains and ended Tuesday’s session in the green zone.
Tadawul All Shares Index (TASI) gained 0.69% or 48.98 points and maintained its level above 7100 points, as it closed at 7,155.20 points.
The main index rise was accompanied by an increase in traded values to SAR 6.82 billion ($1.82 billion) compared to SAR 5.876 billion ($1.757 billion) on Monday.
According to financial analyst Bassam Al-Obaid, today’s market gains and increase in turnovers were supported by the positive news in the gulf area and the oil sector.
Al-Obaid also told Mubasher that Tadawul is maintaining the upwards trend, and the main index is approaching its targets at 7,144 points, 7,280 points, and then more importantly the levels of 7,400 points, and predicted the main index to reach 7200 points.
Regarding the support level at 7,000 points, he stressed that it is more important to keep the support level of 6,875 points, which is the main index was to break it could lead to a correction wave.
Total traded volumes also went up today to 490.5 million shares from 336.2 million shares by the end of Monday’s session.
As for the sectors performance, they all closed in green, led by multi-investment which gained 2.65%, as Aseer jumped 15.9%, while banks went up by 0.24% as Al-Rajhi increased by 0.17% and closed at SAR 63.5.
The telecom sector added 0.24% as Zain and Mobily rose by 1.8% and 0.4% and closed at SAR 8.5 and SAR 24.7 respectively.
Translated by: Moslem Ali
