By: Mohamed Idris
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) added 0.70% or 41.68 points to stand at 5,977 points at the end of Sunday's session.
The rises started to weaken, which is coinciding the main index reaching an important resistance zone 6,000 – 6,170, technical analyst Abdullah Al Gabaly told Mubasher.
Al Gabaly added that the banks sector is still affected by the announcement of sovereign bonds sale.
The analyst expected that the main index will start the correction process, noting that it is important not to break the support at the level of 5,800 points, as it will lead it to a main downward path.
Traded volume reached 199 million shares traded at a value of SAR 3.1 billion ($826 million) through 79,100 transactions.
The hotels sector topped the best performers rising 4.20%, followed by the banks and industrial investment sectors which advanced 2.125 and 0.68%, respectively.
On the other hand, the energy sector led the worst performers shedding 0.57%, followed by the petrochemical sector which fell 0.51%.
The gaining stocks included: the National Commercial Bank (NCB) increasing 7.83% to SAR 43.90, followed by Al Hokair Group which levelled up 5.51% to SAR 29.50.
AXA Cooperative Insurance led the losing shares, closing down 2.78% to SAR 9.10.
Dar Al Arkan was the most active in terms of traded volume of 24 million shares. The stock shed 0.58% to SAR 5.10.
Al Inma Bank was the most active in terms of traded values with SAR 309 million. The stock rose 1% to SAR 13.45.
Translated by: Sara Ghali
