By Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) gained 1.28% or 85.26 points on Tuesday to close at 6,771 points, reversing a three-session losing run during which it lost 4.49% or 314.5 points.
Meanwhile, several stocks plunged to their lowest levels in years, as nearly one third of listed stocks plummeted to levels not reached in 13 to 14 years and some since debut.
The market rise today was coupled with a continued decline in oil prices, as Brent fell for the eighth successive day amid investor worries about oversupply and lower demand.
Sectors were collectively higher, topped by media (+8.88%), then insurance (+3.75%) and industrial investment (+3.03%). Banks and petrochemical industries also advanced by 1.19% and 0.25% in a row.
Tuesday’s traded volume declined by 6.1% to 260.8 million shares from 277 million shares yesterday. Traded value also decreased by 7.4% to SAR 5.1 billion from SAR 5.5 billion.
Tracking stock performance, SRMG was the best performer (+10%), followed by Emaar E.C. (+9.95%), Paper (+9.87%) and Saudi Printing (+9.62%). Meanwhile, Herfy was the biggest loser (-3.33%), followed by Gasco (-1.99%) and Nadec (-1.61%).
