By: Waleed Abdel Salam
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closes in green on Thursday.
The main index rose 0.35% or 24.87 points to stand at 7,090.91 points.
The index's performance became weak after forming the peak at 7,234 points, technical analyst, Ryan Al Kharashy, told Mubasher.
He added that the most important support now is at 7,027 points, and breaking this level will encourage reaching 6,875 points, which is an important previous peak and support level for the coming period.
Traded values rose to SAR 4.6 billion ($1.22 billion) compared to SAR 4.5 billion ($1.19 billion) on Wednesday.
Traded volumes also increased to 258.52 million shares compared to 281 million shares yesterday.
The multi investment sector topped the gaining area and rose 2.97%, backed by Saudi Arabia Refineries Co. (SARCO) which added 4.7% to SAR 39.
The petrochemical sector added 0.35%, after Alujain Corp. and Rabigh Refining and Petrochemical Co. (Petro Rabigh) advanced 2.15% and 1.37%, respectively, while SABIC and SAFCO shed 0.023% and 0.56%, respectively.
The banks sector had the least gains increasing 0.26%.
On the other hand, the Real Estate Investment Traded Fund (REIT) sector topped the red zone shedding 0.45%, followed by the media and cement sectors which decreased 0.10% and 0.09%, respectively.
The US Federal rate hike is one of the most affecting issues on the market, and the banks sector was affected positively, the analyst said.
Dar Al Arkan was the most active in terms of traded volume, exchanging 48.46 million shares at a value of SAR 285.5 million; the stock added 1.7% to SAR 6.
Al Inma Bank was the most active in terms of traded values of SAR 440.2 million by exchanging 30 million shares; the stock increased 1.10% to SAR 14.75.
Translated by: Sara Ghali
