The Saudi equity market sustained uptrend on back of G20 plan to help boost financing and trade through the International Monetary Fund (IMF). The Saudi Stock Exchange (Tadawul) followed the bullish global mood at world exchanges the past week, with the Tadawul All Share Index closing 5.28 percent higher at 4,966.38 points on Saturday - the first trading day of the week, bringing its gain this year to 3.4 percent. It slumped more than 50 percent in 2008 as the price of oil plunged. Saudi Finance Minister Ibrahim Abdel Aziz Al-Assaf said in London on Thursday that the economy, which “hasn't been greatly affected” by the crisis, will rebound this year. Market bellwether and petrochemical giant SABIC jumped 9.97 percent, gaining SR4.2 to SR46.3 on higher oil prices (gaining $4 per barrel) after world leaders decided on Thursday to tighten regulation of the global financial system and to pledge more than $1 trillion to bolster lending by the IMF to nations in need. The banks and financial services index gained 5.56 percent. Al-Rajhi Bank, Saudi Arabia's largest lender by market value, climbed SR3.5 to SR55.5. Samba Financial Group, the country's second-biggest bank by market value, advanced SR1.9 to SR44.3. Saudi British Bank, the third-largest, added SR1.25 to SR51.75. Insurance firms also gained, with both Tawuniya and SABB Takaful advancing by 10 percent straight. Only six out of 126 shares declined, with Aldress Petroleum and Transport Services losing 5.47 percent. Tadawul announced on Saturday that the revised number of free-floated shares per company is used in the calculation of Tadawul indices effective Saturday, replacing the previous number. Meanwhile, the total amount of traded shares in the Saudi Stock Exchange in March 2009 was SR87.41 billion, a decrease of 14.44 percent from the previous month where the value of the traded shares was SR102,16 billion, Tadawul said on its website on Saturday. The percentage share of Saudi nationals from the market trades was 92.4 percent for selling at SR80.77 billion and 90 percent for buying at SR78.67 billion. The percentage share of Saudi companies from the market trades was 2.2 percent for selling registered at SR1.95 billion and 3.7 percent for buying at SR3.27 billion. The percentage share of investment funds from the market trades was 1.8 percent for selling at SR1.56 billion and 2.4 percent for buying at SR2.06 billion. The percentage share of GCC nationals from the market trades was 1.2 percent for selling at SR1.02 billion and 1.5 percent for buying at SR1.29 billion. Moreover, the percentage share of Arab residents in Saudi Arabia from the market trades was 1.9 percent for selling at SR1.65 billion and 1.8 percent for buying at SR1.60 billion. However, the percentage share of foreigners residing in Saudi Arabia from the market trades was 0.2 percent for selling at SR191.76 million and 0.2 percent for buying at SR167.80 million. The percentage share of foreigners via swap agreement from the market trades was 0.3 percent for selling at SR262.29 million and 0.4 percent for buying at SR356.62 million. __
