08/12/2010
Tadawul index surges 0.6%
Oil prices hit a 26-month high on Tuesday, boosting Saudi petrochemicals stocks as the Kingdom's index rose for a first session in three.
Saudi Basic Industries Corp. (SABIC) climbed 2.2 percent and Rabigh Refining and Petrochemical Co. rose 2.3 percent.
The Tadawul All-Share Index (TASI) climbed 0.6 percent to 6,436.64 on Tuesday. The sector activity for the day was mostly negative with 6 out of 15 closing with gains ranging from 0.15 percent by the Transport sector to 2.13 percent by the Petrochemical Industries sector. On the other hand the losing sectors ranged from 0.03 percent by the Cement sector and the Real Estate Development sector to 0.59 percent by the Telecommunication & Information Technology sector.
The overall market breadth for the day was positive with 61 advancers against 47 decliners giving it an AD ratio of 1.29, the Financial Transaction House (FTH) said in its daily market commentary. The stock market turnover reached SR3.44 billion.
