The Saudi stock market again broke the psychological barrier of 8,000 points mark last Sunday, buoyed by investors’ positive sentiments after an ease situation between US and Syria.
The benchmark Tadawul All-Share Index (TASI) rose sharply by 140.5 points or 1.78 percent for the entire session, closing at 8,034.2.
On a year-to-date basis, the index crossed a positive return of 18 percent. All market cap indices witnessed a positive change, with Micro cap surging 2.7 percent.
Tadawul's 15 sectors all closed the day up, reflecting an accumulation of 1,860 points.
Agriculture & Food Industries sector remained at the top showing an increment of 231.4 points, or 2.71 percent, reaching 8,784.31 from 8,552.9. Tourism, Multi-Investment and Telecom sectors followed it, advancing 2.69 percent, 2.55 percent and 2.52 percent respectively.
Investors were able to continue a bull run as prices of Saudi stocks surging up with high turnover. Tadawul total volume set sold about 326 million shares (nearly 33 percent greater than previous level). The 50-day average for trading volume is closer to 213.8 million shares.
A considerable amount of liquidity SR8.1 billion flowed into the market, an increase of 39.1 percent from previous day's SR5.8 billion.
Most of the trading was concentrated in the Real Estate Development sector, which liquidated more than 77.6 million shares, a relative market share of 24 percent.
The total number of rising stocks exceeded to the total number of falling stocks by a huge margin of 146 to 5.
Alujain Corporation and AXA Cooperative Insurance showed a tremendous performance among all Saudi stocks, marching higher by 9.82 percent and 8.29 percent.
Major heavy weights also rose from previous day’s levels, with Saudi Telecom Co. outdid rest of its peers, advancing nearly four percent to SR41.7.
Arab News
16 September
