TASI rises 0.4% to 8,045 points amid turnover of SAR 12.6 bln

Saudi Arabia’s stocks rose for second consecutive session, with the benchmark Tadawul All Share Index (TASI) gaining 0.4%, or 32 points, to close at 8,045 points on Thursday, the highest close in seven months.

Over 561 million shares, worth SAR 12.6 billion, were traded, with advance-decline ratio at 105:72.

Trading values ​​have risen since early August, rising from levels of SAR 5 billion to over SAR 10 billion in the last four sessions.

Petchems major SABIC rose 0.5% to SAR 89.80, after it was reported that the company started marketing a $1 billion dual-tranche bond offering today.

Banking major Al Rajhi gained 2.3% to SAR 66, while oil giant Saudi Aramco closed flat at SAR 36.

MIS climbed 3.2% to SAR 61, as the firm signed a SAR 50 million contract with a corporate body to set up a highly secured and reliable communications system.

SARCO was the top gainer, rising 9.9% to SAR 83.40.

On the other hand, SABB was the top decliner, shedding 3.2% to SAR 26. Goldman Sachs Saudi Arabia and Citigroup Saudi Arabia completed accelerated book building to sell 31 million shares in the bank.

To contact the writer, email Parag Deulgaonkar at parag.d@argaam.com