By: Mohamed Idris
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 1.5% or 91.37 points to stand at 6,197 points at the end of Monday’s session.
After being stable for the two session of 1 and 2 November at 6,000 points, the index completes its upward performance, which started at 5,455 points on 19 October, through three rising sessions in a row, Ali Al-Jaafari, a technical analyst, told Mubasher.
The analyst added that the rebound from the level of 5,455 to the current levels affected the sectors well, so that the banks sector rebounded 19%, the petrochemical sector 21%, the energy and industrial investment sectors by 28% and 25%, respectively.
The index is now trading at a price earning ratio (P/E Ratio) of 15 times and at a resistance and target zone between 6,180-6,280 points, while the support level is between 6,020-5,906 points in the coming period, Al-Jaafari pinpointed.
Traded volume reached 253.3 million shares at a value of SAR 3 billion ($1.01 billion), through 90,700 transactions.
Saudi Ceramics led the 153 gaining stock and surged 9.86% to SAR 26.40, followed by United Wire Factories Co and Zamil Industrial Investment increased 9.77% to SAR 21.90 and 9.76% to SAR 23.05, respectively.
On the other hand, Al Hassan Ghazi Ibrahim Shaker topped the losing 10 stocks and fell 2% to SAR 7.95.
The building sector led the best performers adding 4.19%, followed by the retail and multi-investment sector which advanced 2.03% and 2.02%, respectively.
Dar Al Arkan was the most active in terms of traded volume trading 48 million shares. The stock rose 1.20% to SAR 5.05.
SABIC was the most active in terms of traded value with SAR 395.4 million, rising 1.24% to SAR 85.
Translated by: Sara Ghali
