The Saudi Stock Exchange - Tadawul witnessed a remarkable rise during the week, continuing its positive performance for the third week in a row, amid a collective rise in major sectors, amid a decline in trading activity.
The general index of the market, TASI, recorded an increase of 1.20%, in the week ending February 21, 2024, which includes only 4 sessions, with gains of 149.74 points, rising to 12,634.33 points, compared to 12,484.59 points in the previous week.
The Saudi Stock Exchange announced the date of the Founding Day holiday for the Kingdom of Saudi Arabia, tomorrow, Thursday, Shaaban 12, 1445 AH (according to Umm Al-Qura calendar), corresponding to February 22, 2024 AD, and trading will resume after the holiday starting from the session of Sunday, Shaaban 15, 1445 AH (according to Umm Al-Qura calendar), corresponding to February 25, 2024 AD.
The market capitalization rose by 50.13 billion riyals during the week, bringing the market value of shares listed on Tadawul to 11.25 trillion riyals, compared to 11.2 trillion riyals at the end of last week.
Most sectors witnessed positive performance, led by long-term commodities by 5.5%, while the banking sector increased by 1.44%, the communications sector increased by 1.13%, the basic materials sector increased by 0.61%, and the energy sector increased by 0.37%.
In contrast, the performance of 5 sectors declined, led by financial services by about 1.26%, and the consumer goods retail and distribution sector also declined by about 0.38%.
Trading activity witnessed a significant increase during the week, at all levels, compared to its levels during the previous week.
Trading values fell to 39.86 billion riyals, compared to about 51.06 billion riyals last week, a decline of 22%, so the average values fell to 9.97 billion riyals per session.
Trading volumes fell by 19% to 1.48 billion shares, compared to 1.83 billion shares the previous week, bringing the average volume in four sessions to 371.15 million shares per session.
