By: Majed Al Shabib
Riyadh – Mubasher: The benchmark index of the Saudi Stock Exchange (Tadawul) closed Sunday in the green, surging 1.69% or 111 points to close at 6,698 points.
Turnover grew to SAR 8.2 billion, reaching its highest level since 25 August 2015 or in almost 8 months, whereas traded volume stood at 495 million shares, also the highest in that period. A total of 163,000 transactions were executed.
The petrochemicals sector boosted trades today, after rising 3.2%, while the real estate development and banking sectors were up 1.2% and 1%, respectively.
The hotels and tourism sector topped gainers, soaring 6.6%, followed by insurance with 4.8%, whereas media and publishing was down 0.5%.
Commenting on Tadawul’s performance today, financial analyst Riyad Abdellatif noted that companies’ first quarter financials acted as the main driver behind recent gains, followed by the movement in oil prices.
Overall, companies’ Q1-16 financials came higher than expected, he added.
A total of 145 stocks ended Sunday’s session at a rise, led by Wafa Insurance, Kayan, and National Gypsum Co., all of which surged 10%.
On the other hand, a total of 22 stocks ended in the red, led by Extra, which plunged 6.5%, followed by Aseer Trading and Saudi Industrial Export, which shed 3.4% and 2.5%, respectively.
Translated by: Nada Adel Sobhi
