Investors upbeat as Tadawul surges

Saudi stock market, while achieving a half-percent rise on its last trading day of the week, signaled rejoicing for Investors to double the celebration of Eid Al-Fitr. The Tadawul All-Share Index (TASI) closed higher at 7,003.79 yesterday, up 35.48 points for the day. Its trading range remained two points lower than previous days 44 points. All market cap indices traded in the positive district. Most of the major sectors closed in the green territory; Agriculture & Food Industries sector remained at top showing an increment of 3.16. Only three sectors ended in red, with Insurance sector declined more than one percent for the day. Major heavyweight stocks ended in the green territory, with SABB recovered a portion of previous day's losses, advancing 1.54 percent yesterday. Saudi Arabian Fertilizers Co. (SAFCO) and Etihad Etisalat Co. (Mobily) followed it, each rising nearly 0.7 percent. Almarai Co. outperformed among all Saudi stocks, reflecting an increment of 9.96 percent to close the day at SR 69. AMANA Insurance, on the other hand, switched its position from the top gainer of previous couple of days to the biggest loser of the day, down SR 12.75 or 9.4 percent. Dar Al-Arkan Real Estate came out as most active stock of the day. Its volume set sold about 45.8 million shares, which are about 22 percent of the overall market volume. The market breadth was also positive, with 87 stocks witnessing advances and 53 others marking a decline.