By: Aseel Bin Taleb
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday in the green.
The main index rose 0.61% or 37.15 points to stand at 6,176.53 points.
Traded volume reached 120 million shares exchanged at SAR 2.06 billion and distributed over 61,000 transactions.
The market was in a subsidiary downward wave since resuming after Eid Al Fitr, where it created descending tops at the levels of 6,875, 6,702 and 6,394 points, technical analyst Salem Al Shwayman told Mubasher.
Tadawul went in a downward path because of the low gains of companies in the second quarter of the year, fluctuation of oil prices and weak liquidity, which directed the market into profit taking that took it to the level of 5,910 points.
He added that the rebound witnessed today and the closure at the level of 6,176 points is good and it is expected to achieve an upward after Eid Al Adha, with the stability of the oil prices above the $40 per barrel and the announcements of the company's third quarter financial statements.
The media sector topped the best performers rising 3.71%, followed by the cement and hotel sectors which increased 1.33% and 1.18%, respectively.
The petrochemical and banks sectors were also up adding 0.80% and 0.59%, respectively.
On the stock level, 126 shares levelled up, 38 levelled down and five remained unchanged.
Saudi Research and Marketing Group advanced 6.17%, followed by L’azurde Company for Jewelry and Saudi Industrial Investment Group (SIIG) which rose 5.6% and 3.55%, respectively.
Amana Cooperative Insurance led the losing stocks falling 2.84%, followed by Malath Cooperative Insurance and Reinsurance Company and Al-Ahlia Cooperative Insurance which went down 2.29% and 2.14%, respectively.
Translated by: Sara Ghali
