24/04/2011
Tadawul index surges 0.24%
Saudi shares reversed early losses and closed slightly higher on Saturday supported by gains in the petrochemicals sector. US crude oil futures ended higher for the third straight day on Thursday as a weaker dollar attracted more buying from investors.
The Tadawul All-Share Index (TASI) surged 0.24 percent or 15.97 points to 6,590.64 while the petrochemicals sector was up 0.76 percent at 6,919.03 points.
Shares in heavyweight Saudi Basic Industries (SABIC) were up 0.67 percent.
Banking stocks climb percent 0.17 percent to 16,127 points.
The stock market turnover reached SR6.28 billion on Saturday.
