Petrochem stocks lift TASI
Saudi Arabia's index closed higher on Saturday due to gains in thepetrochemical and banking stocks.
The Tadawul All-Share Index (TASI) rose 1.21 percent to 6,421.86 points.
Petrochemical giant Saudi Basic Industries Corp. (SABIC) climbed 2.21 percent.
The banking index edged higher by 0.64 percent to 16,095.33 points, led by gains in heavyweight Al-Rajhi Bank which added 1.61 percent.
The sector activity for the day was mostly positive with 14 gaining sectors against 1 losing sector. The gaining sectors ranged from 0.22 percent by the Agriculture & Food Industries sector to 2.59 percent by the Petrochemical Industries sector. On the other hand the only losing sector is the Real Estate Development sector with loss of 0.02 percent. The overall market breadth for the day was positive with 104 advancers against 14 decliners giving it an AD ratio of 7.42, the Financial Transaction House (FTH) said in its daily market commentary.
The stock market turnover for the day reached SR3.46 billion.Meanwhile, at the end of November TASI closed at 6,318.50 points, down 35.38 points (0.56 percent) over the close of the previous month. On an YTD basis TASI registered a positive return of 3.21 percent (196.74 points).
According to Tadawul's monthly report for November, highest close level for the index during the month was 6,461.74 as on Nov. 6.
Total equity market capitalization at the end of November reached SR1,27 trillion ($337.98 billion), down slightly over the previous month.
The total value of shares traded reached SR47.24 billion ($12.60 billion) in November, decreasing by 18.38 percent over the previous month.
The total number of shares traded reached 1.89 billion in November compared to 2.47 billion shares traded for the previous month, decreasing by 23.46 percent.
The total number of transactions executed during November reached 1.05 million compared to 1.36 million trades for the month of October, dropping by 23.03 percent, the Tadawul report said.
Number of trading days during November were 17, against 22 trading days during October.