SABIC the most active by value
Saudi stocks extended gains last week, receiving support from the construction, banking and transport sectors
The Tadawul All-Share Index (TASI) gained 0.65 percent on weekly basis to close at 6,499 points.
The top gainer last week was Arabian Pipes Co. as its shares jumped 19.57 percent to SR24.75. The other major gainers were Mohammad Al-Mojil Group Co. (15.81 percent), Saudi Steel Pipe Co. (12 percent), Al-Babtain Power & Telecommunication Co. (11.85 percent) and Saudi Arabian Cooperative Insurance Co. (8.71 percent). On the other hand, the major loser companies last week were Saudi Industrial Investment Group (6.41 percent), National Metal Manufacturing and Casting Co. (5.32 percent), Advanced (3.58 percent), Jouf Cement (-3.16 percent) and Saudi Automotive Services Co. (-3.02 percent).
The value of Saudi traded shares last week reached SR16.71 billion compared to SR15.89 billion in the previous week.
On a week-to-week basis, the sector activity was mostly positive with 12 out of 15 sectors closing with gains ranging from 0.13 percent by the Industrial Investment sector to 6.01 percent by Building & Construction sector. On the other hand the sectors which suffered losses last week were the Retail sector (0.48 percent), the Cement sector (1.05 percent) and the Petrochemical Industries sector 1.51 percent, the Financial Transaction House (FTH) said in its weekly market commentary.
Saudi Basic Industries Corp. (SABIC) was most active by value despite 1.19 percent fall in its share price at SR103.75. SABIC shares worth SR2.32 billion changed hands last week. Over SR1 billion of Saudi Kayan Petrochemical Co. shares traded last week. Saudi Kayan shares also fell 1.05 percent to SR18.85.