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Saudi shares sustain forward momentum
By Querubin J. Minas
Published in The Saudi Gazette on 02 - 05 - 2010

Saudi shares maintained forward momentum recorded in more than a week fueled by high oil prices which traded over $87 a barrel on Friday.
The Tadawul All Share Index (TASI) ended 0.71 percent higher on Saturday to 6,916.79, extending last week's advance.
Oil prices rose further on Friday but gains were capped by weaker-than-expected growth data in the United States, the world's biggest energy consuming nation, traders said.
Brent North Sea crude for June delivery climbed 13 cents to $87.03 a barrel in afternoon London trade.
New York's main contract, light sweet crude for June, gained 45 cents to $85.62.
On a monthly basis, TASI closed at 6,867.97 points, or an increase of 12.19 percent. Highest close level for the index during the month was 6,929.40 recorded on April 26, Tadawul said.
The total value of shares traded in April 2010 reached SR87.48 billion ($23.33 billion), increasing by 24.30 percent over the previous month.
Total equity market capitalization at the end of April 2010 reached SR1,352.83 billion ($360.75 billion), increasing by 0.59 percent over the previous month.
On an YTD basis, TASI registered a positive return of 12.19 percent.
The total number of shares traded reached 3.47 billion for the month of April 2010 compared to 2.92 billion shares traded during the previous month, or an increase of 18.98 percent.
The total number of transactions executed in April 2010 reached 1.71 million compared to 1.63 million trades for the month of March 2010, or a 4.65 percent increase.
The percentage share of Saudi nationals from the market trades for selling last April was 89.7 percent at SR78.48 billion and 86 percent for buying at SR75.27 billion.
The percentage share of Saudi companies from the market trades was 3.2 percent for selling at SR2.8 billion and 6.2 percent for buying at SR5.39 billion. Investment funds comprised 2.6 percent for selling at SR2.31 billion and 3 percent for buying at SR2.65 billion.


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