Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading session in the green zone, as Tadawul All Share Index (TASI) edged up 0.01% or 0.62 points, and closed at the level of 6,796.75 points.
The main index is maintaining its high levels, after a run of positive performances, it closed today at its highest level in nearly 7 month, since 28 April.
According to technical analyst, Rayan Al-Kharashi, Tadawul is still on a rising trend, with a growing positive optimistic view of the market among investors thanks to the surge in turnovers and the benchmark index seeing record highs.
By the end of the session, traded values declined by 17.7% to SAR 7.9 billion compared to SAR 9.6 billion on Wednesday, while traded volumes reached its highest level since 25 April, as it increased by 6% to 497.62 million shares from 469 million shares in last session.
The main index performance was boosted today by some positive news, such as the remarks made by the International Monetary Fund (IMF) that Saudi Arabia is on the right track for economic reform, the decline in budget deficit by 13%, and the Russian oil ministry speaking about a constructive ongoing discussions with OPEC.
The energy sector gained 2.43%, followed by telecom with 1.41%, cement 0.57%, and petrochem with 0.04%, while media and publishing, building and construction, and banks lost 2%, 1.2%, and 0.12%.
As for the stocks’ performance, 57 closed in green while 111 closed in red.
Maadaniyah led the session’s gainers and surged 7.11%, and on the other hand, Arabian Shield was the biggest loser and dropped 4.86%.
Dar Al Arkan registered the highest traded values and volumes with 168.92 million shares traded at total turnover of SAR 987.58 billion.
