Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 2.07% or 135.26 points to stand at 6,663.31 points.
Turnover retreated 12.05% to SAR 5.7 billion on Sunday after SAR 6.5 billion on Thursday, while traded volume also decreased 9.33% to 389.9 million shares compared to 429.99 million shares on the last session.
Sunday's rises, especially after trespassing the average of 200 days at 6,200 points, are good, adding that one of the most important supporting reasons is the return of some of the government's spending on the defaulting companies and contractors, technical analyst Rayan Al-Kharashi told Mubasher.
Saudi Arabia has allocated SAR 100 billion ($26.7 billion) to pay the due loans for the private-sector companies after months of delay, according to an official document.
The media sector came on the top of the best performers gaining 9.85%, followed by the telecom and transport sectors which added 3.57% and 3.37%, respectively.
The real estate development also increased 2.71%, followed by the banks and petrochemical sectors which went up 2.21% and 1.1%, respectively.
The analyst noted that the strong purchases in the important sectors are mostly supported by the government's funds or banks.
Riyad REIT fund led the gaining stocks hiking 10% to close at SAR 11.
Tadawul announces the listing and trading units of Riyad Real Estate Investment Traded Fund “Riyad REIT” as of Sunday, to be the first REIT listed on Tadawul.
Al-Kharashi expected that a decline and profit gaining may be seen at the level of 6,875 or before.
