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Saudi stock market continues its gains & it is the highest closing since July 2006

Saudi stock market continues its gains & it is the highest closing since July 2006

The “TASI,”  (Tadawul All Share Index) Saudi Arabia’s main stock index, rose 0.67 percent, or 84 points, to 12,674.34 today, the highest close since July 2006.

Given the potential for volatility in energy markets since Russia’s war of Ukraine began, as well as the continued imposition of new sanctions against Moscow by countries around the world, the Saudi market is directly benefiting from rising oil prices.

In trading today, Tuesday, Brent crude prices for May delivery increased 5.4 percent to $ 103.3 a barrel, while US NYMEX crude futures for April delivery rose 4.3 percent to $ 99.9 a barrel.

At the closing of trading, the Saudi stock market had 266.76 million traded shares with a total traded value of 12.2 billion riyals.

Out of the 212 stocks listed on the market, 85 saw their stock prices rise, while 114 saw their stock prices fall.

With prices ranging from 4.87 percent to 3.26 percent, SABB Takaful, Tihama, Saudi Cables, “Research and Media,” and gas were the lowest.

In terms of volume, Dar Al-Arkan, Saudi Kayan, Alinma and Saudi Group, and Aramco were the most active.

With 896 million riyals in value, Al-Rajhi shares led the trading activity, followed by SABIC (882.94 million riyals), and Equipment House (764.59 million riyals).

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