Saudi stock market reopens with 1.4% jump after Eid holiday
RIYADH — The Saudi stock market resumed trading on Wednesday following the Eid Al-Adha holiday with a strong rally, as the Tadawul All Share Index (TASI) jumped by 155.53 points, or 1.4 percent, to close at 11,160 points. Total traded value reached SR1 billion.
Saudi Aramco, the index's largest component by weight, gained 1.6 percent to reach SR25.20.
In the energy and industrial sectors, Al-Masafi rose 1.6 percent to SR63.20, while Bahri (National Shipping Company of Saudi Arabia) climbed 1.3 percent to SR31.00.
In the basic materials sector, SABIC and Ma'aden both advanced nearly 2 percent, closing at SR56.30 and SR51.60 respectively.
The banking sector saw strong momentum as Al Rajhi Bank rose 1.7 percent to SR94.90, SNB (National Commercial Bank) climbed 2.6 percent to SR35.15, and Riyad Bank surged 3 percent to SR28.70.
The post-holiday gains reflect renewed investor confidence in the Saudi economy, buoyed by strong performance in heavyweight stocks across energy, industry, and finance.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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