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TASI maintains gains, ends Thursday in green

TASI maintains gains, ends Thursday in green
TASI closed at the level of 8,062.6 points

Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) has successfully kept its upward trend for the fifth day in a row, which means that it ended all of this week’s sessions in gains.

The Tadawul All Share Index (TASI) saw marginal gains by on Thursday, as it rose by 0.11% or 8.55 points, and closed the week at the level of 8,062.61 points.

Traded volumes increased to 177.28 million shares, up from 105.73 million shares yesterday.

Similarly, traded values increased to SAR 4.95 billion, compared with SAR 2.75 on Wednesday, registering its highest level in about two months, supported by special transactions on Banque Saudi Fransi, which logged the highest turnover today at SAR 2.2 billion.

Economic analyst Saad Al Thaqfaan told Mubasher that the Saudi bourse is moving vertically, with the special transactions largely boosting liquidity.

He also noted that the last three weeks, since Saudi Aramco launched its initial public offering (IPO), saw a positive performance by Tadawul that is proving to be a strong leading market.

The analyst, a member of the Saudi Economic Association, stressed the ability of the Saudi economy and liquidity to absorb such a large IPO, noting that horizontal movement was driven by international factors, such as trade war concerns and the risk of a global economic recession.

In its first day on the main market, Raydan led the session’s gainers and surged by 10%, while Al Kathiri saw the highest loss at 6.94%.

Meanwhile, the main index of the Parallel Market (Nomu) lost 1.71% and ended the session at the level of 5,364.41 points.