Petrochemical stocks, led by heavyweight Saudi Basic Industries Corp (SABIC), and higher oil prices drive Saudi stocks to a higher close.
SABIC shares closed 1.5 percent higher after the company says that it started commercial production at a 2.8 million tonne expansion.
The petrochemicals index gained 0.8 percent to 6,128 points while the all-share benchmark TASI added 0.4 percent to 6,827 points.
US crude oil futures close the trading week with a fourth straight session on Thursday, settling at $85.20 a barrel.
"The local market sentiments are buoyed by expectations of good quarterly earnings and continuous surge on oil prices that moved quickly to trade above $85," said Mohammed Ishaq Ali, fund manager at al-Rajhi Capital.
Saudi Arabian Mining Co (Maaden) closed 0.3 percent lower having recorded gains earlier in the session after announcing that Alcoa cut its stake in a planned $10.8 billion aluminium complex in the kingdom by more than a third.
"The market will take this news with a pinch of salt in the near term. The market will look forward to Maaden's plan to substitute them," Ishaq says. (Reuters)For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.