Saudi Arabia’s benchmark stock index turned green Wednesday, recovering entirely from previous day’s losses. The index continued inching its way higher to finish at 8,214.85 points, up 0.43 percent from the previous level. It performed within a range of fifty points, adding nearly 35 points for the entire day.
TASI also logged a healthy YTD return of 20.78 percent. Small cap with 0.97 percent upward jump remained prominent among market cap indices.
Most of the major sectors closed in the green territory, accumulating an aggregate of 564 points. Positive performance was boosted by Agriculture & Food Industries, which surged 1.8 percent to cross the 9,000-mark. Retail sector added considerable 190 points, closing up by 1.75 percent.
Major heavyweights finished to the upside, with Etisalat Co. (Mobily) rising by 0.87 percent and Saudi Electricity Co. 0.75 percent.
The top five most active stocks also closed in green, with Saudi Kayan Petrochemical Company outdid rest of its peers, advancing 2.41 percent to SR 12.75.
The advancers easily outnumbered declining stocks on the Tadawul; as for 62 percent stocks that gained, 25 percent ended lower and 13 percent remained unchanged.
Aljazira Takaful Taawuni Company shares continued to march upward in a consecutive manner, rallying 9.59 percent further to close the day at SR 60. An appreciation of nearly 500 percent in the value of Aljazira has been recorded in 19 consecutive sessions.
Trading activity was led by Alinma Bank, which liquidated roughly 32.5 million shares, a relative market share of 15 percent. The value of these shares totaled SR488.1 million, which equates 8.7 percent of total market liquidity.
Roughly 220 million shares worth SR5.6 billion were poured into the market. Tadawul volume remained slightly above the 50-day average level.
Agriculture sector crosses 9,000-mark
