By: Mahmoud Salah Eldin
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) started Monday in the green zone after its main Tadawul All Share Index (TASI) went up 0.21% or 14.3 points to reach 6,952.3 points.
By 10:38 am KSA time, TASI trading volume reached 16.980 million shares, with a turnover of SAR 369.95 million.
The banks sector grew 0.87%, whereas the telecommunication services and materials sectors shed 0.32%, and 0.14%, respectively.
TASI's index is weak on the short-term, has a support level at 7,160 points, and after exceeding the resistance level it will aim to reach 7,400 points, economic analyst Safaa Fares told Mubasher.
TASI’s support level is at 6,890 points, targeting to break below 6,780 points Fares added.
Malath Cooperative Insurance Company's stock levelled up 4.9% to SAR 2.56, with a liquidity of SAR 19.6 million, while Banque Saudi Fransi’s (BSF) stock increased 3.4% to reach SAR 48.7.
Al Inma Bank’s stock rose 1.97% to SAR 17.58, while the stocks of The Saudi Investment Bank, Arab National Bank, and the National Commercial Bank (NCB) of Saudi Arabia grew.
Al Inma Bank’s stock has resistance level at SAR 17.88, after exceeding the resistance level it targets to rise to SAR 18.60, the support level is at SAR 16.98, and breaking below the support level it will reach SAR 16.30, Fares noted.
Meanwhile, NOMU, the benchmark index of the Nomu-Parallel Market, surged 2.02% or 60.1 points reaching 3,030.5 points, backed by the rise of Thob Al-Aseel Company’s stock with 2.8% to SAR 62.
Al-Kathiri Holding Company’s stock fell 2.06% to SAR 17, whereas the rest of the stock remained unchanged.
Translated by: Mohamed Hesham Azab