Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended the first week of 2018 on a rise, to continue its positive rally for the third consecutive week.
The Tadawul All Shares Index (TASI) gained 0.64% or 46.5 points, and closed at 7,277.06 points.
Market cap rose by around SAR 7.7 billion ($2.05 billion) reaching a total of SAR 1.696 trillion ($452.4 billion).
Analyst Safaa Faris said that the main index is targeting a resistance level at 7,300, on the short term, which if it breaks it will open the door to the upwards target of 7,380.
On the other side, support lies at 7,230, before 7,150 points.
As for the market sectors’ performance, 10 sector indices ended the week in green, led by pharmaceuticals that rose by 4.2%, followed by banks with 3.4%.
Meanwhile, materials and telecom increased by 0.53% and 0.47%, respectively.
On the contrary, real estate was the biggest decliner as it lost 6.7%, and investment went down 2.3%.
Traded values increased by 12.6% to SAR 12.3 billion ($5.7 billion), while volumes grew 19.7% to 1.2 billion shares.
Meanwhile, the Nomu-Parallel market saw a negative performance, as the main index (NOMU) ended the week at 3,066.8 points, losing 3.8% or 122.5 points.
During the week, traded volumes reached 359,600 shares with a total turnover of SAR 7.1 million.
