Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Tuesday in the green territory after the benchmark Tadawul All Share Index (TASI) surged 136.96 points, or 1.76%, to 7,905.27 points, registering its fifth consecutive weekly gains.

The bourse’s trading volume reached 121.4 million shares exchanged at a turnover of SAR 2.81 billion.

TASI was supported by the rise in oil prices, which will continue to push the Saudi index to the 8,000 point level in it sustained $81 a barrel, according to technical analysis consultant Ibrahim Al Faylakawy.

The main index was able to recover from the support level of 7,400 points, while this week resistance level will be between 7,800 to 8,000 points, he added.

As for the market sectors performance, 15 indices rose by the end of the session, led by food retail and food production, which gained 2.9% and 2.4%, respectively.

Telecom, materials, and bank all added 2.35%, 2.2%, and 2%, respectively.

On the other hand, five sectors registered daily losses led by consumer services with 4.5%.

Medgulf led the rising stocks as it surged 10%, while Al Tayar dropped 7.6%, which made it the top loser.

The Nomu-Parallel market declined for the second consecutive session, as the main index lost 0.6% and closed at 2,569.33 points.