Tadawul keeps upward momentum

The Saudi stock market continued its positive movement, marking another gain of 0.35 percent yesterday.
The Tadawul All-Share Index (TASI) jumped into the green territory earlier yesterday and spending entire session in the same region closed higher at 7,087.82 points, up nearly 25 points from its previous close.
On an YTD basis, TASI registered a positive return of 286.6 points or 4.21 percent.
All market cap indices also showed modest gains.
Sectoral performance was tremendous, as 13 out of the 15 sectors closed in the upward territory, accumulating an aggregate of 375.5 points.
Tourism and Multi-investment were best performing sectors of the day, advancing 1.44 percent and 1.35 percent respectively.
Only Industrial Investment and Media sectors could not manage for gains, going down a little and losing 13.3 points jointly.
Most of heavyweights closed in green, with Kingdom holding surging by 2.35 percent, SABB 2.08 percent and Saudi telecom 1.24 percent.
The advancers easily outnumbered declining stocks on the Tadawul (market); as for 58 percent stocks that gained, 22 percent ended lower and 20 percent remained unchanged.
Nama Chemicals Co. and Allied Cooperative Insurance Group led the top gainers chart at Tadawul, surging by 5.59 percent and 4.86 percent respectively.
Furthermore, Northern Region Cement continued its leading position and remained the most active stock of the day.
Its volume set sold about 34.1 million shares, which equates 15 percent of the overall market volume.
The company has also been able to buck the 6-day downward trend, gaining over two percent and closing at SR21.65.