Saudi stock market continued its positive movement for the second consecutive week, marking another gain of 0.67 percent.
The Tadawul All-Share Index (TASI) ended the week in the green at 7,175.36 points, up 47 points, from its previous weekend close at 7,127.68 points.
Its trading range narrowed further to 70 points as compared to previous week’s 88.5 points.
On year-to-date basis, the index showed a collection of nearly 375 points or 5.5 percent.
Total market capitalization of Saudi stock exchange increased slightly (+0.3 percent) to SR1.44 trillion. Med cap with two percent upward jump remained prominent among market cap indices.
Nine out of Tadawul’s 15 sectors closed up from previous week’s level, accumulating an aggregate of 793 points.
Again Cement made the biggest weekly jump among sectoral indices, advancing 230 points or 3.54 percent to 6,733.44. City Cement Co. came out as key gainer in this sector, reflecting an increment of nearly 10 percent.
Agriculture sector followed the performance of Cement, moving up by two and half percent in a week.
Kingdom Holding and Samba Financial Group remained at top among big players, rising by 1.5 percent and 1.1 percent respectively.
Weekly market breadth remained favorable as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 94 to 51 and the prices of 11 companies remained unchanged.
Insurance companies won the weekly race among all Saudi stocks.
Enaya Insurance and Allianz Saudi Fransi were top gainers of the week, marching higher by 12.1 percent and 11.2 percent respectively.
Tadawul volume with trades over 1.1 billion shares remained 3.3 percent greater than previous week’s level. Furthermore, upside-downside volume ratio of 1.3:1 remained positive.
Saudi Mobile Telecommunications Co. (Zain) topped the volume chart, liquidating 170.7 million shares and capturing roughly 15 percent of the overall market volume.
But the company showed a negative change for the week, declining more than five percent.
Most of the major benchmark indices at GCC stock markets ended the week in green, with Kuwait Stock Exchange rose 4.25 percent.
The benchmark GulfBase GCC General Index closed the week higher at 4,227.79 points level, adding 48.8 points or 1.05 percent for the entire week.
Cement company shares gain by 3.5%
