By: Thabet Shehata
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended the first session of the week in green, continuing its positive performance for the second consecutive session.
Market analyst, Abdullah Al-Gabaly, said that the Saudi market was able to bounce back on Sunday to maintain the support level of 6,800 points, which might be a push for reaching 7,290 points.
Tadawul All Share Index (TASI) went up 0.75% gaining 52.31 points, and closed at the level of 7,021.57 points, regaining its levels above 7,000 points after losing its last week.
Al-Gably expects the main index to be pushed to a new peak near 7,500 especially with the positive impact from oil prices.
Traded values went down to SAR 3.61 billion ($963 million) compared to SAR 3.59 billion ($957 million) last session, while traded volumes declined to 185.6 million shares down from 189.3 million shares on Thursday.
As for the sectors performance, 18 closed in green, led by food and staples retailing which gained 3.07%, as Thimar added 5.6% and closed at SAR 37.04.
The banks sector also went up by 0.84%, as NCB increased by 0.68% to SAR 41.3, whil Al Rajhi slipped 0.03% and closed at SAR 65.
The materials index increased by 0.47%, as SABIC and SAFCO gained 0.42% and 0.08% respectively.
The telecom sector also edged up 0.08%, as Mobily and Zain grew 1.16% and 0.57% respectively, while STC lost 0.25%.
AXA Cooperative was the session’s biggest gainer and surged 8.01% to SAR 20.35, while SPIMACO led the decliners and dropped 3.09% to SAR 38.6.
Alinma was the most active in trade, registering the biggest volume and the highest value with 23.8 million shares and a turnover that totalled SAR 349 million, the stock closed at SAR 14.6, increasing by 0.83%.
