Saudi stocks edge higher; volumes dip

26/02/2017 Argaam
by Brinda Darasha

The Saudi Tadawul All Share Index (TASI) closed 0.1 percent higher at 7,050 on Sunday. Volumes were at SAR 3.2 billion, the lowest in four months. The advances- declines ratio was 94/71.

Most petrochemicals and cement stocks rose. SABIC gained 0.4 percent to SAR 97.75 while Petrochem added over 1 percent to SAR 20.85.

Elsewhere, Najran Cement jumped 4 percent to SAR 12.25 while City and Northern added 1 and 2 percent respectively.

Healthcare equipment, utilities and banks also supported the gains.

Mouwasat jumped nearly 2 percent to SAR 138.50 while Saudi German Hospital rose 2 percent.

Among lenders, Bank Aljazira rose 2.5 percent while Saudi British Bank was nearly 1 percent up. Al Rajhi Bank, however, slipped to SAR 64.75.

Meanwhile, the new Nomu Parallel Market was launched today, where seven stocks began trading. 

Write to Brinda Darasha at brinda.d@argaamplus.com


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