Banking stocks powered the Saudi bourse to a new 17-month high with SABB and Samba Financial Group making the sector's strongest gains. SABB shares surged by 2.09 percent to SR48.80 and Samba Financial Group by 2.02 percent to SR63.25. Riyad Bank shares increased by 1.40 percent to SR29 on Saturday.

Heavyweight Saudi Basic Industries Corp.'s (SABIC's) shares increased by 0.78 percent to close at SR96.50.

The market on Saturday witnessed 5 sectors closing with losses ranging from 0.10 percent by the Real Estate Development sector to 0.80 percent by the Telecommunication & Information Technology sector. The gaining sectors, on the other hand, ranged from 0.14 percent by the Cement sector to 1.20 percent by the Retail sector. The overall market breadth was positive with 62 advancers against 43 decliners giving an AD ratio of 1.44, the Jeddah-based Financial Transaction House (FTH) said in its daily market commentary.

The value of traded shares crossed SR3 billion on Saturday.