The Saudi stock market witnessed a remarkable rise during July 2024, continuing its gains for the second consecutive month, supported by 3 major sectors, led by the banks with the highest weight in the index.
The general index of the market, TASI, rose by 3.68% (the highest gain since February 2024), adding 430.02 points to its balance, rising to 12,109.52 points, compared to 11,679.5 points at the end of last June.
Market gains amounted to SAR 77.08 billion, bringing the market capitalization of shares listed on Tadawul to SAR 10.133 trillion, compared to SAR 10.056 trillion at the end of last month.
The green color dominated the performance of the sectors, led by 3 major sectors, led by the banking sector after rising by 6.04%, the basic materials sector rose by 1.27%, and the communications sector recorded an increase of 0.53%.
Losses were limited to 5 sectors, led by the long-term commodities sector, which declined by 2.47%, and the energy sector declined by 0.92%, contradicting the performance of the main sectors.
Trading values declined during July 2024 to 145.6 billion riyals, compared to 170.34 billion riyals in the previous month, a decrease of 14.53%, so that the average values fell to 6.33 billion riyals per session.
Trading volumes decreased by 8.78% to reach 6.2 billion shares, compared to 6.8 billion shares traded during the past month, with a daily average of about 270 million shares per session in July.
At the parallel market level, the (Maximum Growth) index ended its trading in July 2024, up 1.93%, with gains of 505.43 points, raising it to 26,651.19 points.
Trading values in the parallel market declined to 889.88 million riyals during July, compared to 904.53 million riyals last month, and volumes increased marginally to 59.83 million shares, compared to 59.4 million shares traded last June.
