A noticeable recovery in the Saudi stock market (TASI)
witnessed The Saudi stock market a strong positive performance today, with the main index (TASI) recording a notable jump of 91 points, representing a 0.8% increase. With this outstanding performance, the index closed at 11,167 points, its highest closing level in 45 days. This rise was accompanied by a healthy influx of liquidity, with the total value of trades reaching approximately SAR 6.1 billion, reflecting investor optimism and confidence in the strength of the local economy.
During the trading session, the index showed positive volatility and sustained activity, reaching a high of 11,185 points and a low of 11,096 points. This fluctuation reflects strong buying activity targeting several key sectors in the market.
Leading stocks support the upward trend
In a related development, leading stocks played a pivotal role in supporting this strong rally. Shares of Saudi Aramco, the global oil giant and the largest energy company by market capitalization, rose by more than 1% to close at SAR 27.28. Similarly, shares of Al Rajhi Bank, the world's largest Islamic bank and a cornerstone of the Saudi banking sector, climbed by over 1% to reach SAR 105.40. The performance of these two stocks in particular strongly indicates market stability, given their significant relative weight and direct impact on the overall index.
Active trading and record highs for some companies
Among the most actively traded and top-performing stocks, the Saudi Public Transport Company (SAPTCO) shares stole the show, surging 10% to close at SAR 9.88. In the petrochemical sector, Petro Rabigh shares climbed 7% amid heavy trading of approximately 15 million shares, indicating clear investment accumulation.
The gains also included shares of Saudi Arabian Pipes Company, which rose by 5%. In a historic achievement, shares of Saleh Al-Rashed Company recorded their highest closing price since their listing on the stock exchange, settling at SAR 67.20. The session generally saw active trading in several other stocks, exceeding their average daily trading volumes over the past three months.
The economic context and the impact of the Saudi market regionally and internationally
These gains in the Saudi stock market within a broader economic context characterized by resilience and sustainable growth. The Saudi Stock Exchange (Tadawul) is the largest stock market in the Middle East and North Africa region and plays a crucial role in achieving the goals of Saudi Vision 2030, which aims to diversify income sources and reduce reliance on oil revenues. Enhancing the depth of the financial market and attracting foreign and institutional investment are among the most important pillars supporting this strategic direction.
At the regional and international levels, the stability and growth of the Saudi market reflect the attractiveness of the Kingdom's investment environment, particularly with the ongoing structural and regulatory reforms adopted by the Capital Market Authority. These factors combined contribute to maintaining the market's position in prestigious global indices such as MSCI and FTSE Russell, ensuring a continuous flow of foreign capital and reinforcing the Saudi economy's status as a key and influential player on the global economic stage.
