By: Mahmoud Salah El Din

Riyadh – Mubasher: The Tadawul All Share Index (TASI) dropped 0.14% or 9.79 points to 7,075.7 points in week, while the main index of the Nomu-Parallel Market (Nomu) rose 2.7% or 80.7 points to 3,060.5 points.

TASI-listed stocks’ market capitalisation lost 0.84% or SAR 14.1 billion ($3.76 billion) to SAR 1.659 trillion ($442.5 billion) over the week.

TASI sees resistance at 7,115 points, and by breaking above which, it will target 7,140-point level, market analyst Safaa Faris commented.

On the other hand, TASI’s support remains at 7,000 points, and below it the index would level down to 6,940 points, Faris added.

The main market’s average trading value surged 7.5% to SAR 4.6 billion ($1.2 billion) from SAR 4.3 billion ($1.1 billion) in the previous week, while TASI’s trading volume soared 9.9% to 282 million shares versus 256.7 million shares a week earlier.

Nomu’s turnover more than doubled to SAR 12.5 billion, compared to SAR 5.2 billion in the week ended 7 December.

A number of nine sectors went down during the week, led by utilities, which decreased by 8.6%, while media lost 2.3%.

Meanwhile. A total of 11 sectors grew, topped by capital goods, which gained 3.1%, followed by consumer durables that added 1.8%.

Translated by: Muhammad Khalid