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Tadawul closes Monday on marginal gains

Tadawul closes Monday on marginal gains
The main index closed Monday's session at 7,349 points

By: Bedour Alrai

Mubasher: The Saudi Stock Exchange (Tadawul) recorded a marginal rise at the end of Monday’s trading session, failing to hold its earlier gains.

The Tadawul All Share Index (TASI) levelled up by 0.06% or 4.09 points and closed at 7,349.19 points, as it attempted recovery from the losses recorded yesterday on the back of coronavirus (COVID-19) concerns.

Economic analyst Saad Al Thaqfaan told Mubasher that TASI’s rebound today, after three consecutive declines, comes as global stock markets and oil prices are showing limited signs of recovery, noting that the surge at the beginning of today’s trade opened the door for a coming decline.

Markets remain worried about the outbreak of the new virus, the analyst further noted.

Traded volumes increased to 198.25 million shares, up from 179.73 million shares on Sunday, with traded values rising to SAR 5.103 billion, the highest level year-to-date, compared with SAR 4.77 billion yesterday.

At the end of today’s session, 96 stocks closed in green, with NCLE leading the gainers as it surged by 10%, while 91 stocks closed in red with MedGulf topping the losers and falling by 9.91%.

Al Rajhi logged the highest turnover with SAR 674.33 million, while Alinma was the most actively traded stock with around 18.2 million shares.

Meanwhile, the main index of the Nomu-Parallel Market dropped by 2.5% and closed at 6,854.69 points.