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Saudi stock market ends Wednesday in green on back of Kingdom’s budget

Saudi stock market ends Wednesday in green on back of Kingdom’s budget

The Saudi stock market’s main “TASI” index closed Wednesday’s session up 1.08 percent, closing at 11139.57 points, with transactions totaling SAR 7.2 billion.

Shams, Al-Rajhi, Saudi Telecom, stc, and SABIC were the most actively traded stocks in Saudi stock market (Tadawul) Wednesday session, with more than SAR 400 million traded.

In an interview with Al-Arabiya, Muhammad Al-Omran, a member of the Saudi Economic Association, said that the study of the 2022 budget gave him hope for the Kingdom’s ability to weather various economic storms.

He stressed the necessity of being prepared for what the world’s financial markets are expecting, such as the release of the monetary policies that the world’s leading central banks will pursue in the coming months.

The Federal Reserve of the United States (the central bank) has begun meetings to establish monetary policy, and it is expected to declare the end of its bond-buying stimulus programme sooner than previously stated, implying that interest rates could be raised earlier next year.

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