The Tadawul All-Shares Index advanced 0.20% on Wednesday, closing at
7,977.26 points. The gauge has been oscillating around the 8,000 points or the last 4 weeks. Narrowing Bollinger bands indicate that the gauge might accelerate in one direction in short-term. Market bellwether Sabic, the world’s first producer of petrochemical products, advanced 0.77%, finishing at SR98.50. Bank Al-Jazira gained 0.65% to reach SR31. Earlier in the day, the lender said its net profit in the 3-month period from June to September surged 45.38% year-in-year, amounting to SR189m. Bank Aljazira said growth in the core banking activities and increase in operating income fueled the net income increase.