By Mohamed Abu Meleeh
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) rose Wednesday by 0.74% - the same percentage recorded yesterday – with a gain of 53 points to close at 7,347.43 points; thus achieving its highest closing level since 26 October.
The indices rise was coupled with a jump in liquidity to its highest level in more than one month and a half, as it reached SAR 6.36 billion to continue the increase for the fifth successive session.
The banks and petrochemical sectors accounted for almost two thirds of the market liquidity, with 21.5% and 12.4% respectively. It was followed by insurance (12.4%) then real estate development (8.2%).
Sectors were mostly in green, except for industrial investment that bucked the uptrend with a fall of 0.9%. The sector was pressured down by Ma’aden (-0.98%) and Chemical (-1.24%).
On the positive front, media and publishing was the top riser (+8.57%), followed by hotel and tourism (+7%), then multi-investment (+4.29%). Cement and banks tailed the list with a rise of 0.03% and 0.07% in a row.
91 stocks moved higher topped by Allianz SF (+9.96%), SRMG (+9.93%) and Al Tayyar (+9.76%). Meanwhile, 71 other stocks moved lower led by Red Sea Housing (-3.49%), Alinma Tokio Marine (-2.95%) and Medgulf (-2.73%).
Translated by Sayed Abdel Rahman
