The Saudi stock market continued its positive movement, marking another solid gain of 0.85 percent on Monday.
Saudi Arabia's benchmark stock index continued inching its way higher to end yesterday’s trading in the green at 7,806.03 points, up 65.57 points percent from the previous level. TASI’s year-to-date collection crossed 1,000 points on Monday.
All market cap indices finished to the upside, with Med Cap advancing 0.9 percent.
Most of the major sectors closed in the green territory, accumulating an aggregate of nearly 1,300 points.
Positive performance was boosted by Hotel & Tourism sector, which surged 608.6 points or 4.48 percent to cross 14,000-mark. Real Estate Development and Retail sectors followed it, advancing 2.51 percent and 1.97 percent respectively.
On the negative side, five sectors including Agriculture (-0.39 percent) — the biggest decliner of the day — showed small declines from previous level.
Top ten heavyweights also ended the day in green, with SABB rising by 1.81 percent, Al-Rajhi Bank 1.66 percent and Samba Financial Group 0.96 percent. Only Saudi Telecom went downward slightly, declining by 0.25 percent.
Market breadth was positive, as rising stocks outnumbered decliners by a margin of two-to-one on the Tadawul market.
New player Aljazira Takaful Taawuni Company again made the biggest jump among all Saudi equities, achieving a maximum growth of 10 percent. Al Babtain Power & Telecommunication Co. was another significant advancer, jumping 9.88 percent for the day.
Market activity remained roughly 11 percent greater than previous day’s level. More than 206 million shares worth SR5.2 billion changed hands on the Saudi stock market.
Most active stocks also showed a positive change, with Knowledge Economic City surging by 4.86 percent, Jabal Omar Development Company 3.93 percent and Dar Al-Arkan Real Estate 2.02 percent.
Hotel & Tourism sector crosses 14,000-mark
