Saudi stocks rise after Eid holiday

The Saudi Stock market advanced further from earlier levels to 8,114.75 yesterday.
Saudi Arabia’s benchmark stock index curving in the upward territory throughout the day and performing in a reasonable range of 68.3 points added 42.45 points or 0.53 percent for the entire session.
On an YTD basis, TASI registered a positive return of nearly 1,313.5 points or 19.31 percent. Market cap indices all ended the day in the upward zone.
Sectoral performance was positive, with eleven sectors accumulating an aggregate of 659.5 points.
Retail made the biggest jump among sector indices, marching higher by 2.78 percent or 303.6 points and crossing the 11,000-mark. Cement and Petrochemical Industries followed it, moving up by 1.32 percent and 1.11 percent respectively.
Most of heavy weights closed in green; where Saudi Telecom Co. surging by 3.11 percent, Samba Financial Group 1.41 percent, SAFCO 1.35 percent and market leader SABIC (Saudi Basic Industries Corp.) 1.31 percent.
There were 77 net advancing issues, a largely strong market breadth.
Share price of Aljazira Takaful Taawuni Company rallied to a maximum growth of 10 percent to SR 34.1, clinching the spot as top gainer amongst Saudi stocks. An appreciation of nearly 241 percent in the value of Aljazira has been recorded in thirteen consecutive sessions. Jarir Marketing Co. was another significant advancer, rising by 6.67 percent.
The top five most active stocks also witnessed a positive change, with Saudi Kayan Petrochemical Co. increasing by 2.13 percent, Emaar the Economic City 2.08 percent and Zain 1.5 percent.
Dar Alarkan with trades over 28.5 million shares topped the volume chart, capturing roughly 13 percent of the overall market volume.