The prices of Saudi stocks surged for the fourth straight day, witnessing the long-term upward trend yesterday.
The Tadawul All-Share Index (TASI), which continued inching its way higher to end yesterday’s trading in the green at 6,851.16 points, up 0.40 percent. It went 18.35 points below the level of opening bell earlier yesterday but subsequent trading sent the index up to accumulate more than 27.3 points for the entire session.
Most of the major sectors closed in the green territory, accumulating an aggregate of over 233 points. Real Estate Development outdid rest of the Saudi sectors, advancing 1.94 percent to close the day at 3,375.26. Multi-Investment sector followed it, showing a positive change of 1.56 percent.
On the negative side, five sectors ended in red, trimming roughly 50 points for the day. Insurance and Transport sectors posted the largest losses, falling 0.63 percent and 0.42 percent respectively.
Market breadth was positive as the total number of rising stocks exceeded to the total number of falling stocks by a margin of 73 to 57 and the prices of 25 companies remained unchanged.
Arriyadh Development Co. remained at top position among all Saudi equities, surging 5.6 percent to close the day at SR 21.70.
The Kingdom Holding showed a tremendous performance among big players, moving up by 1.44 percent for the day. Only Samba Financial Group turned red amongst top 10 large caps, closing the day lower 0.66 percent.
Investors were able to expand the Tadawul volume to 200.5 million shares, increasing by 12 percent over the previous day.
Tadawul keeps upward momentum
