By Maged Al-Shabib

Riyadh-Mubasher: Investors benefited from the lowest levels hit by Saudi Stock Exchange (Tadawul) in the last period, as liquidity reached SAR 40.3 billion last week, compared with SAR 26.5 billion a week earlier.

Trading volume amounted to more than 2.01 billion shares, the largest weekly volume in 17 weeks.

Tadawul All-Share Index (TASI) witnessed severe volatility last week, fluctuating within a range of nearly 2,500 points. The benchmark lost 5.10% or 408 points to close the week at the 7,604 level.   

The rising oil prices are likely to reflect positively on the GCC stock markets this week on strong investor sentiment.

TASI is expected to return to the 8,000 this week, and if the index holds position above this level, it will rise further in the next period, taking into account that the gauge has been moving in a downward trend since declining below the 11,000.

The petrochemical industry sector had the lion’s share of turnover, accounting for 19.6% or over SAR 7.9 billion of the total traded value. The banking sector controlled 16.3% or SAR 6.5 billion of the total turnover.

Translated by Abdul Maguid Aboshahla