By: Thabet Shehata
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) saw a positive performance during the first week of November, to maintain its gains for the second week in a row, backed by 12 sectors led by the banks.
The main index rose 2.09% or 124 points to stand at 6,060.46 points, compared to 5,936.30 points last week.
Market capitalisation levelled up to SAR 1.429 trillion ($381 billion) from SAR 1.406 trillion ($374.83 billion) in the previous week, gaining SAR 23.2 billion ($6.19 billion).
Turnover added 0.28% to SAR 16.17 billion ($4.31 billion) in the week ending in a week from SAR 16.12 billion ($4.3 billion) last week.
Traded volume also fell 11% to 1.06 billion shares compared to 1.19 billion shares in the previous week.
The telecommunication sector led the best performers gaining 5.07%, supported by Saudi Telecom Company (STC) and Mobily which increased 4% and 8.88% to SAR 60.30 and SAR 19, respectively.
The banks sector gained 3.14%, backed by Al Rajhi Bank which increased 2.91% to SAR 57.69, while the National Commercial Bank (NCB) rose 6.49% to SAR 42.96.
The petrochemical sector topped the worst performers shedding 0.75%, on the back of Saudi Basic Industries Corp.’s (SABIC) which lost 1.75% to SAR 84.05, while Saudi Arabian Fertilisers Company (SAFCO) advanced 3.3%.
Al Inma Bank was the most active in terms of traded value of SAR 1.75 billion, rising 4.3% to SAR 13.88, while Dar Al Arkan was the most active in terms of traded volume trading 169.7 million shares. The stock went down 2.34% to SAR 5.01.
Translated by: Sara Ghali
