The Tadawul All-Share Index (TASI) closed at 6,286.97 points
and petrochemical stocks closed 1.6 percent higher at 5,801.65 points.
The sector activity for the day was mostly negative with 5
out of 15 sectors closing with gains ranging from 0.10 percent by the Retail
sector to 1.76 percent by the Banks & Financial Services sector. The
overall market breadth for the day was positive with 60 advancers against 76
decliners giving it an AD ratio of 0.79, the Financial Transaction House (FTH)
said in its daily market commentary.
The liquidity for the day reached SR2.52 billion.
Banking stocks gained 1.76 percent to 16,435.88 points led
by a 5.43 percent jump in shares of Banque Saudi Fransi after it issued a
report saying most banks have covered their non-performing loans.
"Today, shares in banks rose after Saudi Fransi put out
a report saying that most banks have covered their non-performing loans,"
said Hesham Abo Jamee, chief investment officer at Bakheet Investment Group.
"I think that the progress in the banking sector and
the stock market in general will improve gradually until Eid," he added.
Shares in heavyweight Al-Rajhi Bank gained 0.98 percent
while shares in petrochemical giant Saudi Basic Industries Corp. (SABIC) rose
2.2 percent.
