The Tadawul All-Share Index (TASI) closed 0.7 percent higher at 6,354.09, boosted by gains in the petrochemical and banking sectors.

The sector activity for the day was mostly positive with 11 out of 15 sectors closing with gains ranging from 0.08 percent by the Real Estate Development sector to 1.47 percent by the Petrochemical Industries sector. On the other side, the losing sectors ranging from 0.21 percent by the Telecommunication & Information Technology sector to 0.62 percent by the Multi-Investment sector. The overall market breadth for the day was positive with 84 advancers against 37 decliners giving it an AD ratio of 2.27, the Financial Transaction House (FTH) said in its daily market commentary.

The petrochemical stocks index closed 1.5 percent higher as Sipchem (Saudi International Petrochemical Co.) added 4 percent to SR24.90 after the company said China's Trade Ministry decided not to impose anti-dumping duty on methanol exported by Saudi firms, including its subsidiary International Methanol Company.

Petrochemical giant Saudi Basic Industries Corp. (SABIC) shares surged 2.11 percent to SR97.

The Banking index rose 0.6 percent, led by Banque Saudi Fransi, which jumped 2.4 percent to SR46.80. Riyad Bank gained 1.2 percent to SR26.50.

The stock market turnover for the day reached SR2.48 Billion.