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Saudi market closes at the highest level in 15 years

Saudi market closes at the highest level in 15 years

After rising 0.14 percent on Wednesday, to 11,571 points, the Saudi market index closed at its highest level since September 2006, marking the greatest advance in 15 years.

After the stock climbed 5% this week, Saudi Aramco’s market value surpassed two trillion dollars for the first time since its initial public offering. In today’s session, the oil giant’s stock increased 0.8 percent to 37.3 riyals.

Taiba Company’s shares were among the top gainers in the market, rising 5.5 percent to 36.35 riyals a share, followed by Solutions’ shares, which rose about 4% to 211 riyals per share.

Yamama Cement shares fell 4.4 percent, while Hail Cement shares dropped 3.8 percent as for decliners.

This coincided with oil recording its highest level in several years, above $83 a barrel.

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