Closing Bell: Saudi bourse edges up 31 points to close at 10,578 

Closing Bell: Saudi bourse edges up 31 points to close at 10,578 

RIYADH: Saudi Arabia’s Tadawul All Share Index inched up 31.67 points — or 0.30 percent — on Monday to close at 10,578.34, picking up from Sunday’s 68 points increase. The total trading turnover of the benchmark index on Monday rose to SR3.67 billion ($980 million) from Sunday’s SR2.3 billion. The advance-decline ratio endorsed the market sentiment as 176 stocks of the listed 223 moved further while 36 lagged. The slight pickup in the trading turnover is encouraging, especially after the International Monetary Fund managing director Kristalina Georgieva on Sunday warned that a third of the world would fall into recession in 2023. The turnover remained subdued in 2022 as the oil-led economic slowdown dampened investor sentiments. The total volume of shares traded last year declined by 35 percent to 43.5 billion shares compared to 66.9 billion in 2021. According to data compiled by Kuwait-based Kamco Invest, the total value traded during the year also declined by 23.8 percent to reach SR1.7 trillion compared to SR2.23 trillion in 2021. The sectoral pulse on Monday also gathered some sheen, as 18 of the 21 indices booked gains. The topmost gainer was the Capital Goods Index which advanced 173 points to close at