25/04/2010
Stock market succeeds to return with 6800 points
General index of the Saudi market rose up to 1.87 percent in the first week's sessions gaining 126 points, managed through which transcend the level of 6800 points again.
The Saudi stock market started the new week with a bang, tadawul All-Share Index (TASI) closed 1.87 percent higher at 6,855.82, led by petrochemical stocks, which rallied after a rise in oil prices, and stronger outlook for economy recovery.
Following are more details:
General index of the Saudi market rose up to 1.87 percent in the first week's sessions gaining 126 points, managed through which transcend the level of 6800 points again.
The Saudi stock market started the new week with a bang, tadawul All-Share Index (TASI) closed 1.87 percent higher at 6,855.82, led by petrochemical stocks, which rallied after a rise in oil prices, and stronger outlook for economy recovery.
The petrochemical index gained 4.14 percent to 6.563.12 points. The only sector to see losses on Saturday was the Insurance, which saw a loss of 0.46 percent.Otherwise, all other sectors gains which ranged from 0.07 percent in the Telecom & IT sector, to a gain of 4.14 percent in the Petrochemical Industries sector.
Overall market breadth was positive, with 101 advancing companies and 25 declining companies recoding an AD ration of 4.04, the Financial Transaction House (FTH) said in its daily market commentary.
Rabigh Refining and Petrochemical Co. (PetroRabigh) gained 4.06 percent to SR 35.90 and Saudi Kayan Petrochemical Company increased 5.88 percent to SR22.50.
Gainers and Losers: Among the gainers stocks, Abdullah Al-Othaim share markets was the highest rise in the price, rose by 8.98 per cent, and was followed by Saudi Kayan, which rose 5.88 per cent, Al Baha share which rose by 5.48 per cent, SABIC which recorded an increase reacheing 5.25 percent,. Among the decliners, «BUPA Arabia» shares fell by 10 percent, recording the highest loss, followed by MedGulf insurance shares which declined by 7.34 percent, and finally «Kingdom» share which registered a decline by 2.09 percent.
