The Saudi stock market index, TASI, rose by more than 1%, marking its fourth consecutive increase since the Capital Market Authority announced it would allow foreign investors to trade Saudi shares without restrictions starting next February. The TASI has jumped by more than 4% since that announcement. 206 stocks within the TASI index are rising, while only 49 are declining, and the remainder are at neutral levels.
At 1:28 PM Riyadh time, the Saudi stock market index was trading at 10,719 points, up 1.02%. The gains were led by shares of Al-Asmak (6050), Naseej (1213), and Burgerizer (6016), all of which reached their daily limit. Anaam Holding rose 6.39%, and Redan gained 5.36%.
Meanwhile, the share price of Exports reached its highest level in 52 weeks at SAR 2.98, a 22% year-on-year increase. Alujain and Al Rajhi REIT, on the other hand, fell to their lowest levels in 52 weeks, declining 34% and 7% year-on-year, respectively.
Similarly, Rasen's stock reached its highest level since the IPO, at 125.5 riyals per share. On the other hand, Al Majdiyah's newly listed stock fell by 33% compared to its IPO price.
Leading stocks in the Saudi market saw a collective rise.
The leading stocks of the Saudi market rose collectively, with Aramco rising by 0.12% to reach 24.25 riyals per share, Al Rajhi rising by 0.7% to 101.4 riyals, SABIC rising by 4.46% after trading near its book value last week to reach 55.05 riyals, Al Ahli shares rising by 0.79%, Ma’aden by 3.8%, and Almarai by 3.12%.
Shares of STC, Etihad Etisalat, Dar Al Arkan, Sulaiman Al Habib, SABIC Nutrients and Sipchem Global are trading higher, with gains ranging between 1% and 4%.
