By: Aseel bin Taleb

Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading in the green zone, for the seventh session in a row.

Tadawul All Shares Index (TASI) gained 0.87% or 51.31 points, and closed at the level of 5,936.30 points.

The recent positive news about the Saudi economy was well received by market, as it restored confidence and stability, financial analyst Mohamed Almaymoni told Mubasher.

Tadawul surpassed the horizontal trend after exceeding the 5,700 point level, it’s now in an upward trend, with great anticipation to the developments in the oil markets.

A total of 196.6 million shares were traded with a turnover of SAR 2.7 billion, through more than 74,000 transactions.

The banks and financial services sector added 1.52%, while petrochem gained 0.69%, on the other hand, telecom, building and construction slipped 0.56% and 0.04% respectively.

The stocks of 105 companies rose, while 59 declined, and another 5 remained unchanged.

Enaya led the session’s gainers and surged 9.86%, followed by AICC with 8.8%, and Al-Ahlia with 6.16%.

Enaya, the session’s top gainer announced today offsetting 50% of accumulated losses after decreasing the company’s capital from SAR 400 million to SAR 200 million.

Meanwhile, SABB Takaful led the decliners and dropped 3.84%, followed by Wafa Insurance with 2.88%.

On Tuesday, Christine Lagarde, managing director of the International Monetary Fund (IMF) praised the Saudi government’s economic reform policies to respond to low oil prices, as well as the Vision 2030 and the National Transformation Program (NTP).

These policies helped in containing expenditures and raising additional revenues, as well as increasing employment opportunities, she added.

Translated by: Moslem Ali