After spending entire last week with reasonable gains, the Saudi stock market continued its upward march yesterday, reflecting a positive start (61.36 points) of the new week.
The Tadawul All-Share Index (TASI) opened with positive note on its first trading day of the new week; spending most of the session above the break-even line edged higher at 7,165.86, up 0.86 percent from previous level.
TASI's year-to-date gains improved further to 11.66 percent.
All market cap indices traded in the positive territory.
Thirteen sector indices at Saudi stock market ended the day with modest gains, accumulating nearly 506.2 points jointly.
Multi-Investment and Petrochemical Industries sectors continued to occupy the leading position for the second consecutive trading day, advancing 1.99 percent and 1.95 percent respectively.
Only Media and Hotel sectors ended in the downward territory, trimming an aggregate of 66 points.
There were 95 net advancing issues, a largely positive market breadth for the day.
Among heavyweight stocks, Kingdom Holding and market leader SABIC (Saudi Basic Industries Corp.) continued to play well for the second straight day, marching higher by 4.23 percent and 2.7 percent respectively. However, SABB could not manage for gains, going down slightly by 0.32 percent.
Insurance companies led the top gainer and loser charts, with Gulf General Insurance and Amana Cooperative Insurance, offsetting their performance by a maximum of 9.9 percent positive-negative change.
Tadawul volume with trades over 233.4 million shares remained 21.2 percent greater than previous level but still it was 13.9 percent lower than 50-day average.
Tadawul keeps upward momentum
