Saudi Stock Market’s Highest Closing Since July 2006

The amount of trading in the Saudi market exceeded SR266.76 million, with a value of SR12.2 billion at the close of trading on Tuesday.

Riyadh — The Tadawul All Share Index (TASI), Saudi Arabia’s primary stock market indicator, increased by 0.67%, or 84 points, to reach 12,674 on Tuesday, rising for the third consecutive session marking the highest close since July 2006.

During Tuesday’s trading, Brent crude futures for May rose by 5.4% to $103.3 per barrel, while US NYMEX crude futures for April jumped up 4.3% to $99.9 per barrel.

Share prices of the Medical Equipment House rose 16.57% on the second day of trading; while SABIC Agri-Nutrients ranked second with 7.41%, Petrochem by 6.44%, Amana Insurance by 4.38%, and Bupa Arabia by 3.95%.

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SABB Takaful, Tihama, Saudi Cables, Saudi Research and Media Group; and Gas came with the lowest rates ranging from 4.87% to 3.26%.

The stocks of Dar Al-Arkan, Saudi Kayan Petrochemical, Alinma, Saudi Group, and Aramco were the most active in terms of quantity.

 Al-Rajhi stocks topped the trading value with SR896 million; followed by SABIC with an estimated SR882.94 million and Equipment House with SR764.59 million.

The amount of trading in the Saudi stock market exceeded SR266.76 million with a value of SR12.2 billion at the close of trading on Tuesday.

Stocks of 85 companies recorded an increase in their value; while 114 stocks decreased out of 212 companies listed in the market.

The Saudi stock prices are benefiting from the continuous rise in oil prices. Still, there is a potential for disturbance in the energy markets since the start of the Russian invasion of Ukraine; and the continued announcements of new sanctions against Moscow by countries around the world.

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