The prices of Saudi stocks surged for the second straight week, witnessing the long-term upward trend last week.
The Tadawul All-Share Index (TASI), while bouncing in the green territory for most of the week, closed at the end of the week at 6,838.05 points. It accumulated 93.52 points for the entire week, up 1.39 percent.
TASI dropped on its first trading day of the week to 6,724.46 points level, which appeared to be a trough that supported the major upward trend to sustain.
Since Dec. 31, 2011 the index advanced over 420.32 points or 6.55 percent.
All market cap indices ended the week in the positive zone, with Micro Cap up by 6.61 percent.
Total market capitalization of Saudi stock exchange reached at SR1.35 trillion as compared to previous week's SR1.33 trillion, an increase of 1.23 percent.
Sector indices at Saudi stock market ended the week with modest gains. Hotel & Tourism and Transport sectors outperformed, rising for the week by 6.30 percent and 5.15 percent respectively.
There were 114 net advancing issues, a largely positive weekly market breadth. Furthermore, upside-downside volume ratio of 38:1 remained extremely strong.
Saudi Industrial Export Co. (SIECO) won the weekly race among all Saudi stocks, marching higher by 21.74 percent to close in positive territory at SR44.8.
On the other hand, Allianz Saudi Fransi continued its downward fall throughout the week, topping the weekly losers chart with 35.75 percent negative change.
Most of the major benchmark indices at GCC stock markets ended the week in green.
