By: Aseel bin Taleb
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Monday at a slight increase.
The main index added 0.02% or 1.18 points to close at 6,681.97 points.
Traded value rose 14.86% to SAR 4.13 billion from SAR 3.59 billion on Sunday, while traded volume reached 224.8 million shares exchanged through executing 96,000 transactions.
The market closed on a positive note, as Saudi Basic Industries Corporation (SABIC) closed over SAR 84, which was not reached in months, said technical analyst Saad Al Saad.
Monday's performance was backed by companies’ financial statements, as the National Shipping Company of Saudi Arabia’s (Bahri) stock reacted positively to the company's news of its joint agreement with the Arab Petroleum Investments Corporation (APICORP), he told Mubasher.
The technical analyst said that Tadawul is expected to break through the 6,700 points and exceed 6,775 points in the third quarter, which will have positive impact on the companies’ financials.
The telecommunication sector topped gainers, rising 1.5%, while the energy and utilities sector led losers by falling 1.29%.
On the stock level, 63 shares increased, 99 retreated and 8 remained stable.
Etihad Etisalat (Mobily) topped was the best performer, gaining 4.66%, followed by Al Sagr Cooperative Insurance by 4.6% and United Wire Factories Company (Aslak) by 4.03%.
On the other hand, United Cooperative Assurance Co. was the worst performer, losing 8.2%, followed by Dar Al Arkan for Real Estate Development by 4.06% and Gulf General Cooperative Insurance by 3.49%.
Translated by: Sara Ghali
