By: Mohamed Abu Meleh
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Tuesday’s trading session in the green zone, as Tadawul All Share Index (TASI) gained 1.61% or 104.85 points and closed at the level of 6,601.59 points.
The main index raise was accompanied by a jump in traded values by 106% to SAR 7.44 billion, the highest level in 7 months, or specifically since 25 April when it exceeded SAR 10 billion.
The noticeable increase in turnover is mainly attributed to two special transactions that were carried out on Al Marai stock at SAR 2.74 billion, around 37% of total traded volumes.
Today, Al Marai registered the highest traded value since its inception with SAR 2.77 billion, while volumes reached 46 million shares, its biggest since 16 October 2012 when it reached 56 million shares with turnover of only SAR 2 billion at the time.
All sectors rose except for media and publishing which lost 0.74%, transportation saw the highest gain as it added 4.45%, followed by real estate and petrochem with 2.75% and 1.74% respectively.
The petrochemicals sector had the biggest effect on the main index today with 21.48 points, followed by banks with 21.36 points and real estate with 18 points, financial consultant Ali Al-Gaafari told Mubasher.
It seems like the rise of oil prices to $50 has helped the market regain the level of 6600 points, Al-Gaafari added.
Meanwhile, 134 stocks closed in green while 36 closed in red, as Arabian Shield led the gainers and surged 9.93%, followed by Aldrees with 7.49% and Alujain with 7.41%, while Gulf Union led the decliners and dropped 6.22%, followed by Solidarity with 5.88%.
Translated by: Moslem Ali
