By: Al Sayed Gamal

Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 0.76% or 52.43 points to 6,990.53 points at Sunday’s close.

Traded value increased to SAR 3.06 billion ($815 million) on Sunday compared to SAR 2.89 billion ($770 million) on Thursday.

Traded volume went up to 177.72 million shares from 158.58 million shares.

Tadawul’s main index is in a strong clustering phase and has an important resistance level at 7,080 points, a member of the scientific committee of the African Economic Commission, Safaa Fares, told Mubasher.

Fares added that in case the index was able to break through that resistance level, it could reach the level of 7,200 points.

The media sector led the green zone and advanced 2.3%, followed by the retailing and material sectors which levelled up 1.1% and 1%, respectively.

The telecom sector added 0.5%.

On the other hand, utilities fell solely by 0.13%.

Tabuk Agriculture topped gainers and grew 5.5%.

The committee member noted that Tabuk’s stock has a resistance at SAR 14 and by breaking through it, it will target SAR 14.56.

On the contrary, Umm Al Qura Cement led the losing stocks and slipped 2%.

Moreover, the main index (NOMU) of Nomu-Parallel Market fell 2.1% or 89.39 points to stand at 4,194.17 points.

Traded volume rose to 319,890 shares, while values levelled up to SAR 7.2 million on Sunday.

Raydan Co topped the worst performers and declined 6.2% to SAR 23.35.

Raydan was the most active in terms of traded values and volumes with 251,870 shares exchanged at SAR 5.92 million.

Translated by: Sara Ghali