Yansab National Petrochemical Co. shares surged by 7.06 percent to SR34.90, while, Saudi Basic Industries Corp. (SABIC) shares edged higher by 1.17 percent to SR86.25 on Saturday. Saudi Arabia Fertilizers Co. (SAFCO) shares, however, fell 1.64 percent to SR134.75.

The two sectors which saw losses on Saturday were the Multi-Investment and the Real-Estate Development, which were down by 2.14 percent and 0.64 percent respectively. Otherwise, positive sector movement ranged from 0.03 percent in the Energy & Utilities sector to a gain of 2.06 percent in the Agriculture & Food Industries. Overall market breadth was positive, with 106 advancers and 19 decliners recording an AD ratio of 5.58, the Jeddah-based Financial Transaction House (FTH) said in its daily market commentary.

The market managed to secure a close well above the five-day moving average on Saturday, which proved to be a strong resistance level over the past week. However, the 20-day moving average seems to be the next resistance level that the market will need to overcome in the short run. Further, a positive divergence of these two averages would serve as an important step for any further gains in the market, the FTH report said.

Jarir Marketing Co. shares increased by 0.18 percent to SR136.00 on Saturday after the company said it expects new stores to boost its net profit by at least 15 percent this year. Jarir made a net profit of SR374 million in 2009, up 12.4 percent from 2008.

Shares in Bank AlJazira, Banque Saudi Fransi and Arab National Bank declined on Saturday.

The value of traded shares reached SR2.80 billion on Saturday.

Meanwhile, Tadawul announced on Saturday that Alinma Investment Company has become a duly licensed, approved and authorized member firm of Tadawul, with the right to conduct brokerage services and deal as principal and agent in the Saudi Stock Exchange.