Saudi stock market, while achieving a 0.91 percent rise on its last trading day of the week, signaled rejoicing for Investors to double the celebration of Eid Al-Adha.
The Tadawul All-Share Index (TASI) bucked the 4-day downward trend and turned green yesterday on the back of reasonable performance by the Banking (+1.34 percent) and Real Estate (+1.32) sectors. The TASI closed higher at 6,791.04 yesterday, up 61.56 points for the day. It went 63 points above and 50 points below the break-even line during the day.
All market cap indices traded in the positive district.
Sectoral performance was tremendous, as 12 out of the 15 sectors closed in the upward territory, accumulating 560 points collectively. Only three sectors ended in red, with Building & Construction sector declining 0.83 percent for the day.
Most of heavyweights closed in green, with Samba Financial Group rising by 1.38 percent, Riyad Bank 1.09 percent and Al-Rajhi Bank 1.07 percent. However, Saudi Electricity Co. (SEC) went down slightly by 0.37 percent to close at SR 13.65.
The advancers easily outnumbered declining stocks on the Tadawul (market) as for 65 percent stocks that gained, 27 percent ended lower and 8 percent remained unchanged.
Among all Saudi companies, Wataniya Insurance Company continued to play well for the third straight day, marching higher by 9.89 percent to close the day at SR 125.
Investors upbeat as Tadawul surges
