TASI edges over 7,000-mark; Al Tayyar hits daily limit

The Saudi stock exchange on Thursday unwound from intraday highs, but managed to advance above a key technical barrier. The benchmark Tadawul All Share Index (TASI) closed 0.7 percent higher at 7,017.

Volumes made a comeback as total turnover rose to SAR 4.9 billion. There were 117 advancers to 37 decliners in the market.

All sectors closed in positive territory. Blue chips SABIC and Al Rajhi Bank rose around 1 percent each to SAR 97.75 and SAR 64 respectively.  

Al Tayyar Travel Group jumped to its maximum daily limit at SAR 35.20 after news it has signed deals worth SAR 5 billion with three Hajj and Umrah tour operators in Indonesia.

The Capital Market Authority (CMA) placed a trading halt on Al Tayyar stock from 2:20 pm local time until close of trading upon the company’s request after the stock hit its daily limit.

AlJazira REIT once again rose to its daily upper limit at SAR 21.90 and Riyad REIT added 4.6 percent to SAR 14.90. Both were among the largest traded stocks.

In contrast, Najran Cement fell 1.6 percent to SAR 11.65. The company said it has decided to halt production on the second clinker line due to low demand and high inventory levels.

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