On Wednesday, Riyadh — Saudi Arabia’s stocks recorded their highest closing since July 2006. The general index recorded its highest closing for the Kingdom after the rise of Saudi stocks at the end of Wednesday’s session, the third session in a row.
The Saudi general index rose by 144.58 points or about 1.2% at the end of Wednesday’s trading, to close at 12,495 points, while the liquidity recorded its highest level in two months, reaching SR10 billion.
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It is noteworthy that the market value of the local market increased, by about SR10.44 trillion at the end of Wednesday’s trading; compared to the end of the previous session’s trading; when it amounted to about SR10.54 trillion with gains of SR96 billion.
On Wednesday, the rise of Saudi stocks was supported by the increase in the banking sector; as Al-Rajhi Bank and Alinma Bank shares continued to set record closings.
Additionally, Al-Rajhi Bank and the Saudi National Bank (NCB)’ shares supported the performance of the general index after they rose by 2.2 and 1.1 percent.
STC’s shares were also among the supporters of the increase in the Saudi stocks on Wednesday; as its shares rose by 2.4 percent.
The liquidity of the Saudi stock session concentrated on the shares of Al-Rajhi Bank and Alinma Bank; in addition to Sadr.
Meanwhile, SABB Bank announced a net profit of SR3.9 billion for the year in 2021; compared to a net loss of SR4.17 billion for the year 2020.
Shares of 147 companies rose during Wednesday’s session; led by the newcomer Elm, as it closed at 166.4 riyals; which rose to the maximum of 30, compared to the offering price of SR128 per share. Shares of 47 companies fell, led by East Pipes, with a decline of 2.6 percent.
