Riyadh – Mubasher: The Tadawul all-share index (TASI) jumped to its highest levels before the markets closure by an hour and a half, backed by the Saudi-Russian agreement.
The main index grew 1.7% or 104.8 points to 6,200 points.
Saudi Arabia signed a memorandum of understanding with Russia on the oil market, including the formation of a joint committee to determine the required procedures to achieve the stability of oil markets.
Russia looks forward to cooperating with KSA to reduce the fluctuation of oil prices, said Russian energy minister, Alexander Novak.
Oil prices recorded high gains exceeded 5%, backed by the aforementioned news, awaiting the OPEC- countries meeting in Algeria in September.
Tadawul witnessed a collective rise for all its sectors topped by the petrochemical sector which advanced 2.34%, followed by the banks which added 2.15%.
Traded volume reached around 160 million shares at a value of SAR 2.7 billion, over 57,770 transactions.
All the markets stocks levelled up, except for only five shares that levelled down and two shares remained unchanged.
Hail Cement Company led the losing stocks falling 3.8% to SAR 11.9.
