TASI up 3% in week

TASI up 3% in week
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Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) made gains for the fifth consecutive week.

The Tadawul All Shares Index (TASI) rose by 2.7%, or 200 points, as it ended the week at the level of 7,539.02 points.

Market cap rose by SAR 56.1 billion to a total of SAR 1.767 trillion.

As for the market sectors’ performance, 18 indexes went up this week, led by media and publishing, which rose by 8.6%, followed by food with 4.1%.

Meanwhile, banks, materials, and telecom all went up by 3.3%, 2.7%, and 1.9%, respectively.

On the other hand, food retail and transportation, declined by 1.1% and 1.3%.

Traded values rose by 16.1% to SAR 17.9 billion, with an average of 3.6 billion per session.

Average traded volumes amounted to 187.9 million shares, increasing by 13.3% compared to the week before.

Financial analyst Safaa Faris believes TASI is targeting the resistance level at 7,700 points, while the 7,420-7,340 area, and remains the main support level.