Saudi stock index hits new 3-month high

25/04/2016 05:04 AST

Saudi Arabia stocks were higher after the close on Sunday, as gains in the Hotels & Tourism, Insurance and Petrochemicals sectors led shares higher.

At the close, the Tadawul All Share rose 1.69% to hit a new 3-months high. The best performers of the session on the Tadawul All Share were Saudi Kayan Petrochemical Company, which rose 9.92% or 0.60 points to trade at 6.65 at the close. Meanwhile, Saudi Indian Company Insurance added 9.92% or 1.80 points to end at 19.95 and Bawan was up 9.90% or 2.05 points to 22.75 in late trade.

The worst performers of the session were United Electronics Company, which fell 5.45% or 1.50 points to trade at 26.00 at the close. Aseer Trading Tourism&Manufacturing declined 3.14% or 0.70 points to end at 21.60 and Saudi Industrial Export Co was down 2.69% or 1.20 points to 43.40.

Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 140 to 19 and 8 ended unchanged.

Meanwhile, the total value of shares traded for the week ending April 21, 2016 amounted to SR29.85 billion, increasing by 18.51% over the previous week; while total stock market capitalization reached SR1,508.06 billion at the end of this period, increasing by 1.23% over the previous week.

The total value of shares purchased by “Saudi Investors” during this period amounted to SR28.36 billion representing 95.01% of total buying activity, and sales of SR28.19 billion representing 94.46% of total selling activity. Total ownership of “Saudi Investors” stood at 92.97% of total market capitalization as of April 21, 2016, representing an increase of 0.002% from the previous week.

Saudi Gazette