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TASI hits highest level in 4M at Sunday’s close

TASI hits highest level in 4M at Sunday’s close
TASI grew by 1.95% by the end of Sunday

By: Bedour Al Raee

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Sunday’s trading session in green territory, hitting the highest level in four months, supported by the growth of blue chips.

The benchmark Tadawul All Share Index (TASI) grew by 1.95%, or 149.12 points, ending the session at 7,784.94 points.

Saudi Aramco’s decision of delaying its planned initial public offering (IPO) until posting its result for the third quarter of 2019 played a significant role in pushing up the market, financial advisor Mohammed Al Shammari told Mubasher.

On Saturday, Reuters reported that Aramco has postponed the IPO, adding that no new date was set for the launch of the IPO

TASI’s turnover increased to SAR 3 billion by the end of Sunday compared to SAR 2.602 on Thursday, while the market’s traded volume reached 132.956 million shares instead of 100.81 million shares in the prior session.

The real estate sector topped the risers adding 3.32%.

On the other hand, the main index of the Nomu-Parallel Market, NOMU, levelled down by 0.42 %, or 16.19 points, finishing the session at 3,857.34 points.