Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) benchmark advanced on Sunday, following the oil hikes at last week’s trading sessions. At the same time, the market’s liquidity was powered by traders’ return to injecting money into the bourse after the period of reporting corporate results.
In last Friday’s session, oil prices surged 10%, recording one of the biggest rallies ever, due to a current cold snap that boosted demand for heating oil.
Accordingly, Brent oil rose 10% or $2.93 to $32.18 a barrel, making the biggest one-day gains since late August. Likewise, U.S crude oil increased 9% or $2.66, to stand at $32.19 per barrel
Moreover, traders confidently returned to re-position or to establish new ones following companies’ release of financial results, leading to high liquidity ratios.
Today, arket liquidity jumped by 15.3% to SAR6.2 billion from $5.3 billion on Thursday’s session. Moreover, trading volume hiked 14.2% to 383.8 million shares, compared with 336 million shares. Further, the number of transactions slightly edged up by 3.2% to 139.9 million against 135.6 in the previous session.
Sector-wise, telecommunication & IT led advancers by 4.19%, followed by agriculture & food industries (+4.14%), then hotel & tourism (+3.7%). Meanwhile, energy & utilities bucked the uptrend by a 2.44% decline.
