The sector activity remained widely positive with 10 out of 15 sectors closing with gains for the day ranging from 0.03 percent by the Energy & Utilities sector to 1.81 percent by the Cement sector. The losses were seen in the remaining 5 sectors ranging from 0.27 percent by the Media & Publishing to 1.26 percent by the Insurance sector. The overall market breadth remained positive with 84 advancers against 42 decliners giving an AD ratio of 2.00, the Jeddah-based Financial Transaction House (FTH) said in its daily report.
TASI closed way above the 5 and 20 days simple moving average indicating a high investor confidence. The liquidity for the day also remained strong. The market continues to pose a positive sign influenced by global market fluctuations, the FTH report said.
The Petrochemical Industries index increased by 1.59 percent to 5,790.66 points. All the stocks in this sector closed in positive territory. The bellwether Saudi Basic Industries Corp. (SABIC) shares jumped 1.94 percent to SR91.75. The other major gainers were Petro Rabigh (2.98 percent), Sahara Petrochemical (2.41 percent), Saudi International Petrochemical Co. (1.97 percent), Advanced Petrochemical Company (1.82 percent), and National Industrialization Co. (1.77 percent).
The banking index surged by 0.98 percent to 16,941.52 points, led by gains in Al-Rajhi Bank, which jumped by 1.32 percent to SR77, and Samba Financial Group, which rose by 1.72 percent to SR59.
Southern Cement was the top gainer on Saturday as its shares jumped 4.70 percent to SR78. Saudi Cement's shares also surged 4.50 percent to close at SR75.50. The only loser in the Cement sector was Yanbu Cement. Its shares closed 5.77 percent down at SR49 on Saturday.
Sagr Insurance's shares plunged 10 percent to SR45.
Dar Al-Arkan Real-Estate Development Company shares increased by 1.12 percent to SR13.55 after the company announced on Saturday repayment of its sukuk due on March 7 amounting to SR2.25 billion. The company transferred the total value of principal amounts to the principal paying agent (Deutsche Bank) on Thursday. The paying agent will transfer the amounts to the sukuk holders account on Monday.
The funds from this issuance supported the company into its operations, gave the opportunity to expand its capabilities and undertake more projects. This came in line with the company's funding strategy to broaden its investor base and benefit from accessing the international markets as well as the local market to finance its master planned communities projects with medium- and long-term financing solution which is in line with the projects development life cycle, Dar Al-Arkan said in a statement on Tadawul website.
The value of Saudi traded shares reached SR3.47 billion on Saturday.
According to Tadawul's monthly statistical report, at the end of February TASI closed at 6,437.50 points, gained 184.95 points (2.96 percent) over the close of the previous month. On an YTD basis TASI registered a positive return of 5.16 percent.
Highest close level for the index during the month was 6,487.19 as on Feb. 22.
Total equity market capitalization at the end of February reached SR1.27 trillion ($399.24 billion), increased by 2.42 percent over the previous month.
The total value of shares traded in February reached SR54 billion ($14.4 billion), decreased by 17.75 percent over the previous month.
The total number of shares traded fell by 21.58 percent to 2.33 billion shares compared to 2.97 billion shares traded in January.
The total number of transactions executed during February surged by 30.29 percent to 2.10 million compared to 1.61 million trades for the month of January, the Tadawul report said.
The number of trading days during February were 20, against 22 trading days in January.