(MENAFN - Arab News) .Saudi stocks spent the entire week with impressive gains. The Tadawul All-Share Index (TASI) counterbalanced the lost points of previous week, up 249.14 points and dug in at 6,834.77 points, a weekly growth of 3.78 percent.
The index touched an intra-week high of 6,907.18 and low of 6,585.63 levels, showing a trading range of 321.55 points last week.
Total market capitalization of Saudi stock exchange reached at SR1.35 trillion as compared to previous week's SR1.31 trillion, an increase of three percent. Micro Cap performed well relatively, advancing 5.6 percent in a week.
Indices of all Saudi sectors performed well, accumulating an aggregate of 2,826.85 points for the week. Real Estate Development sector outperformed, up 10.59 percent for the week to close at 3,612.14 points. It also reflected a year-to-date change (33.5 percent) which is second highest amongst all Saudi sectors.
The Banks & Financial Services sector while accumulating 841.6 points or 5.6 percent, ranked fourth.
Market participants responded positively for the week. Tadawul volume reflected an increase of 14.3 percent, surpassing previous week's 1.4 billion shares. Total equity turnover stood at SR30.6 billion compared to SR27.3 billion in previous week.
Mobile Telecommunications (Zain) continued its leading position and remained most active stock for the third straight week. Its volume set sold about 218.4 million shares, which equates 13.7 percent of total market volume.
The market breadth was in the favor of bulls as out of 154 stocks traded last week only 12 were able to close lower. Furthermore, upside-downside volume ratio of 16.7:1 remained extremely strong.
AMANA Insurance and Gulf General Insurance among all Saudi stocks turned in a splendid performance, topping the weekly gainers chart with a positive change of 60.4 percent and 28.06 percent respectively.
Enaya Insurance switched its position from top performer of previous week to the worst performing stock of the week, down 25.2 percent.
All GCC stock markets ended the week on a higher note except Muscat Securities Market and Bahrain bourse, which declined by 1.98 percent and 0.43 percent respectively.
The benchmark GulfBase GCC General Index closed at 3,842.30 points, reflecting an increment of 88.49 points or 2.4 percent for the entire week.