The Saudi stock market continued its upward march yesterday, closing the second consecutive session with impressive gains (+ 0.63 percent).

Saudi Arabia’s benchmark stock index (TASI) added further 48.68 points to finish at 7,717.26 points. While curving in the upward territory for most of the session it rose to a maximum gain of 60 points.

On year-to-date basis, the TASI logged an attractive return of 13.47 percent.

The market cap indices all witnessed a positive change for the day. Sectoral performance was tremendous, as 14 out of Tadawul’s fifteen sectors closed in the upward territory, accumulating an aggregate of 573 points.

Agriculture & Food Industries made the biggest jump among all sector indices, marching higher by 1.5 percent and crossing the 8,000-mark. Cement sector followed it, advancing more than one percent.

Only Media and Publishing sector could not manage for gains, trimming roughly ten points for the day.

Most of heavyweights finished to the upside, with SABB advancing by 2.86 percent, Saudi Arabia Fertilizers Co. (SAFCO) 2.26 percent and Mobily 0.92 percent.

Advancing stocks outnumbered decliners by a margin of 99 to 35 and the prices of 22 companies remained unchanged.

Gulf Union Cooperative Insurance and The National Co. for Glass Industries topped the performance chart at Tadawul, surging by 7.61 percent and 5.56 percent respectively.

Tadawul volume with trades over 175 million shares remained 10.4 percent greater than previous level but still it was 27.7 percent lower than 50-day average.

Emaar Economic City came out as the most active stock of the day, liquidating 21.4 million shares and capturing 12.2 percent of the overall market volume.