By: Thabet Shehata
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Sunday’s trading session in the green zone, returning to its positive performance after ending two sessions in decline.
The main index rose on the back of a group rise of all sectors’ indices, led by petrochem, after OPEC announced reached an output limitation agreement with non-opec major producers.
Tadawul All Shares Index (TASI) gained 1.12% or 79.87 points and closed at the level of 7,197.87 points, approaching the level of 7200 points.
The OPEC agreement gave great support to the Saudi market, financial analyst Ali Al-Gaafari told Mubasher, adding that oil markets are expecting a rise on Monday after the agreement, which could help Tadawul return to the level of 7200 points.
Tadawul currently has around 16.5 price-earnings ratio (P/E Ratio), despite that some of the market sectors are trading below that level, such as the banks sector which has a 9.5 P/E ratio, while cement has an 11 P/E ratio.
All the market sectors rose on Sunday, except for REITs which declined by 0.87%, as Riyadh REIT went down to SAR 11.35.
Meanwhile, the petrochemicals sector saw the biggest gains as it added 2.24%, after all of its stocks closed in green, led by SABIC which jumped by 2.07% to the level of SAR 97.
According to Al-Gaafari, the petrochem sector contributed the most to the main index gains on the first session of the week, as it alone added 33 points, followed by banks with 13.5 points and real estate with 6 points.
The energy sector went up 1.9% as Saudi Electricity gained 1.82% and closed at SAR 19.55, while National Gas and Industrialization Company rose 2.6% to SAR 30.40.
The banks sector levelled up 0.6%, as Al-Rajhi, and Al-Ahli grew 0.44% and 0.77%, and closed at SAR 63.5 and SAR 42 respectively.
The telecom sector saw the smallest gains and it increased by 0.34%, as Mobily and Zain gained 0.81% and 1.43% respectively, while STC remained unchanged and closed at SAR 72.5.
Total traded volumes increased to 389.28 million shares from 313.4 million shares last Thursday, and total traded values also grew to SAR 6.06 billion ($1.6 billion) compared to SAR 5.3 billion ($1.4 billion).
As for the stock’s performance, 151 closed in green while only 13 closed in red, as Enaya led the gainers and surged 10% to SAR 16.4, and Al Alamiya led the decliners and dropped 2.24%.
Alinma registered the highest turnover with SAR 525.6 million, while Dar Al Arkan was the most active in traded volumes with 81 million shares.
Translated by: Moslem Ali
