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Saturday, May 21, 2022

Saudi stock market records highest closing since 2006

Saudi stock market records highest closing since 2006

The Tadawul All Share Index (TASI), Saudi Arabia’s main stock market indicator, increased by 0.5 percent, to reach 13,064 on Monday, marking the highest close since 2006.
During Monday's trading, the price of Brent crude fell $5.85 to $114.80 a barrel, and WTI crude oil declined $5.72 to $108 a barrel at 3:24 p.m. Saudi time

Leading the gainers was ACWA POWER Co., which climbed 7.80 percent, whereas leading the fallers was Malath Cooperative Insurance Co., which dropped 3.25 percent.

Savola Group rose 0.28 percent, despite reporting a 76 percent decline in annual profit to SR222 million ($59.2 million) in 2021.

Digital security firm Elm Co. was up 0.77 percent, as earlier it achieved the highest level since the listing reaching SR212.4.

In the financial sector, Alinma Bank climbed 0.77 percent, while the Kingdom’s largest valued bank, Al Rajhi, edged up 0.63 percent.

Shares of the biggest player in the Saudi oil market Aramco ended today’s trading session up 0.48 percent.

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