Best performance by the Insurance Sector
Most traded by Al-Inma Bank
Saudi shares closed 0.15 percent higher on Saturday according to the gains in the petrochemical sector after oil prices rose to $79 a barrel on Friday; A result of several factors, especially the higher crude oil prices reaching the level of 78 dollars per barrel, as well as the G-20 summit for the major economic countries which is expected to have an impact on the global economy.
The Tadawul All-Share Index (TASI) closed 0.15 percent higher at 6.352.89 points. The sector activity remained positively biased with 11 out of 15 sectors closing with gains ranging from 0.04 percent by the Building and Construction sector to 1.64 percent by the Insurance sector.
"SABIC" share raised slightly up by 0.27 percent; closing at 91.50 riyals.
However, the losing sectors ranged from 0.10 percent by the Transport sector to 1.95 percent by the Real Estate Sector. Loses were seen across "Dar Al-Arkan" shares by the end of trading yesterday by 7.25 percent, followed by "Herfy Food" with a loss of 2.72 percent.
Overall market breadth was strongly positive with 90 advancers against 35 decliners giving it an AD ratio of 2.57, the Financial Transaction House (FTH) said in its daily market commentary.
The liquidity also slipped to SR2.57 billion on Saturday from SR3.28 billion of the previous trading session.
Furthermore; the petrochemical sector closed 0.35 percent higher to 5,670.95 points led by a rise in petrochemical giant Saudi Basic Industries Corp. which closed 0.27 percent higher at SR91.50.The banking index shed 0.18 percent to 16,626.57 points.