Mubasher TV
Contact Us Advertising   العربية

Saudi Tadawul extends rise to fourth day

Saudi Tadawul extends rise to fourth day
Saudi Stock Exchange (Tadawul) benchmark TASI ended Sunday’s session in the positive territory, extending its rise to the fourth successive day.
The index gained 2.43% or 226 points during the four-day uptrend. However, it regained 45% only of the losses seen in five successive sessions, which had amounted to 503.65 points, or 5.14%.
The index is still at its lowest levels in more than four months, as its intraday high today was 9556, which is the same level reached on July 1.
TASI ended Sunday’ session 1.14% or 106.8 points higher at 9515.63 points, compared with 9408.83 points on Thursday.
Sectors collectively shut in green, topped by insurance (+3.77%), after eight insurance companies filed with the market regulator for a capital top-up.
Hotel & tourism came second backed by Al Tayyar after the company announced diversifying its investments through injecting SAR 150 million in non-operating activities.
The petrochemical industries sector took the third position (+1.75%), backed by the biggest company by capitalization SABIC (+2.41%).
146 stocks moved higher today, compared with 92 stocks on Thursday, while 8 stocks moved lower, compared with 60 on Thursday. Eight stocks remained unchanged.
Tracking stock performance, Saudi Re was the top gainer (+10%), followed by AXA Cooperative (+9.98%), Solidarity (+9.93%), Wafa Insurance (+9.93%) and Buruj (+9.65%). Meanwhile, eXtra was the biggest loser (-3.45%), followed by Rajhi Takaful (-2.99%) and Kingdom Holding (-1.05%).
Mobily drifted 0.36% lower after the news that the company suspend Managing Director and Chief Executive Officer Engineer, Khalid Omar Al Kaf, until the Audit Committee completes its task of reviewing what led to the restatement of the Q3, 2014, financial results and submits its report to the Board of Directors.
Sunday’s turnover rose 29.08% to SAR 7.97 billion, from SAR 6.17 billion on Thursday. Traded volume also increased 28.88% to 235.65 million shares from 182.84 million shares.
Alinma Bank was the most active stock in terms of traded value and volume, after 36 million shares were exchanged at SAR 848.76 million.
(written by Mohamed Abu Meleeh; translated by Sayed Abdel Rahman)