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Saudi Stock Exchange boosted by oil-price rally, global market rebound

In Riyadh, the Tadawul All-Share Index or Tasi rose the most in six weeks Tuesday, closing 2.12% higher at 6,885.27 points. 129 out of 154 traded shares advanced, while 16 declined. Saudi Basic Industries Corporation or Sabic added 0.27% to reach SR91.25. A sharp rise in the price of oil ( U. S. crude was up 4.84% at a one-month high at $87.76) triggered the buying spree besides the slight rise in equity indexes at Asian, European and U. S. markets. Saudi Enaya Cooperative Insurance Company ended as a top gainer (up 10% at SR71.75), while Sagr Insurance lost the most (off 4.55% at SR27.30).