The Tadawul All-Share Index (TASI) ended 0.28 percent higher at 6,453.13 points, its highest close since May 18, led mainly by a 0.6 percent rise in the heavyweight petrochemical stocks index.

The sector activity for the day was mostly positively biased with 10 out of 15 sectors closing with gains ranging from 0.11 percent by the Media and Publishing sector and Multi-Investment sector to 1.31 percent by the Insurance sector. On the other hand losing sectors ranged from 0.01 percent losses by the Cement sector to 0.58 percent loss by the Telecommunication & Information Technology sector. The overall market breadth for the day was strongly positive with 84 advancers against 28 decliners giving it an AD ratio of 3.00, the Financial Transaction House (FTH) said in its weekly market report.

The petrochemical index closed on Saturday at 5,703.25 points.

The value of traded stocks crossed SR billion on Saturday.

"Investors here are taking positions before the announcement next month of third-quarter earnings," said Abdulhamid Al-Amri, a member of the Saudi Economic Association.

"They expect petrochemical stocks' quarterly earnings to be about SR5.5 billion to SR6 billion below their level in the previous quarter, but they will still be above their level in the third quarter of 2009," Al-Amri said.

"Banks are expected to do better than they did in the second quarter of 2010," he added.

Shares in petrochemical giant Saudi Basic Industries Corp. (SABIC) added 0.56 percent to SR90.50 while second largest-listed lender Samba Financial Group shed 0.4 percent to SR64.

Savola Group ended 0.84 percent down, having risen by as much as 2.2 percent in early trading after it announced plans to take full ownership of its retail division.