By: Aseel Bin Talib
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday's session on a positive performance.
The main index increased 0.11% or 6.74 points to stand at 6,227.03 points.
More than 170.9 million shares were traded today at a value of SAR 2.87 billion, distributed over 83,700 transactions.
Tadawul began strong profit-taking, falling from 6,394 points. It tested the support levels of 6,357 points, 6,226 points and 6,146 points, respectively, stated technical analyst X.
He added that Saudi market rebounded upwards from 6,146 points and closed one point above the broken support level
The analyst further noted that the general index was likely to continue its decline; however, it is important that the index does not fall below 6,146 points. Should that happen, the index will drop to 6,065 points.
The prolonged political and geo-political events also affected the market, he added.
The petrochemical sector rose 1.08%, followed by the insurance and telecommunication sectors which advanced 0.57% and 0.20%, respectively.
On the other hand, the construction sector lost 1.19%.
On the stock level, 61 shares levelled up, 99 levelled down and 9 shares remained unchanged.
Saudi Arabian Fertilisers Company’s (SAFCO) was the best performer rising 4.5%, followed by Yanbu National Petrochemical Company (Yansab) and Saudi Indian Company for Cooperative Insurance Company (Wafa Insurance) which gained 3.2% and 3.17%, respectively.
Arabian Pipes led the worst performers falling 4.75%, followed by Saudi Steel Pipe Co. (SSP) and Al Jazira Takaful Taawuni Co. which lost 4.18% and 4.1%, respectively.
Translated by: Sara Ghali
