TASI edges up 0.6% led by blue-chip stocks

The Tadawul All Share Index (TASI) closed slightly higher on Thursday rising 0.6 percent (60 points) to settle at 9,731 points. 

The value of total shares traded on the Saudi Stock Exchange reached SAR 6.8 billion.

A majority of sectors ended up in the green as energy, petrochemical and banking stocks accounted for the sharpest gains.

Telecoms accounted for the biggest sector drop, which was partly led by Etihad Etisalat Co. (Mobily). The kingdom's second-largest mobile operator saw its stock fall by 1.2 percent to SAR 35.12 after the Capital Market Authority (CMA) said it was ready to refer suspects involved in a possible market violation to the Bureau of Investigation and Public Prosecution. 

Saudi Basic Industries Corp. (SABIC) recorded a two percent increase in its share price, which hit SAR 107.65. 

Meanwhile, Al Rajhi Bank’s shares rose by 2.5 percent to SAR 66.58.

Saudi Electricity Co. (SEC) was among the day’s biggest gainers as its shares jumped five percent to SAR 20.02.

Shares of National Agricultural Development Co. (NADEC), Alujain Corp., and Saudi Industrial Investment Group (SIIG) posted increases between one percent and four percent.

Saudi Company for Hardware (SACO) hit another record level since listing on the exchange as its stock price reached SAR 92.75.