TASI returns to gains in week

TASI returns to gains in week
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Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) saw a positive performance during the week ended 21 December.

The Tadawul All Shares Index (TASI) rose by 1.9% or 133.99 points, closing at the level of 7,209.71 points.

Market capital increased by 1.6% or SAR 27.1 billion to a total of SAR 1.686 trillion.

Economic analyst Safaa Faris told Mubasher now that the main index is targeting short-term resistance at 7,237 then 7,310 points.

As for the support levels, it range from 7,160 to 7,050 points.

Average traded value declined by 15.2% to SAR 3.89 billion, down from SAR 4.58 billion in the week before, while volumes went down 27.5% to 204.42 million shares, compared to 282.1 million shares.

The majority of market sector indices registered gains, as 19 sectors ended the week in green, led by energy that rose 5.1%, followed by transportation with 4.2%.

Materials, banks, and telecom also went up 2.7%, 2.4%, and 0.6%, respectively.

Only utilities recorded losses, losing 1.2%.

Meanwhile, the Nomu-Parallel market added 1.35% or 41 points, ending the week at 3,101.88 points.

Traded volumes in the parallel market totalled 583,000 sharss, while turnovers reached SAR 9.2 million.