The Saudi stock index closed above 11,000 points with gains of 230 points
The Saudi Stock Exchange's main index (TASI) recorded a significant jump at the close of trading today, rising by 230.87 points to break through a key psychological and technical barrier, reaching 11,007.19 points. This strong rise was accompanied by a noticeable increase in trading volume, with total trading value reaching approximately SAR 5.6 billion.
Trading details and market performance
According to the Saudi Press Agency's daily economic bulletin for the stock market, the session witnessed a clear buying surge, with 282 million shares traded. This positive sentiment was reflected in the performance of the vast majority of listed companies, with 244 companies recording an increase in their market value, reflecting a general sense of optimism across the market, while only 23 companies experienced declines.
The most profitable and loss-making companies
In terms of individual company performance, Kemanol, Alujain, Kayan Saudi, Jaco, and Al Rajhi Takaful topped the list of best-performing stocks. Conversely, Al Rajhi REIT, Malakiyah REIT, Azm, Bupa Arabia, and Al Majediyah for Oud were among the worst-performing stocks, with gains and losses ranging between 10% and 2.24%.
Most actively traded stocks
Leading and major companies captured the lion's share of traders' attention, with shares of Americana, Saudi Aramco, Al-Kimiya, Kayan Saudi, and Saudi Electric Industries being the most actively traded by volume. In terms of monetary value, shares of Saudi Aramco, SABIC Agri-Nutrients, SABIC, Al Rajhi, and Al-Kimiya led the way.
The economic context and the importance of the event
This remarkable rise, with the index surpassing the 11,000-point mark, comes at a crucial time for the Saudi economy, reflecting the confidence of both local and international investors in the strength of the Saudi financial market. The financial market is considered a mirror of the national economy, and this recovery points to positive expectations for the growth of the non-oil sector, in line with the objectives of Vision 2030, which aims to diversify income sources and enhance the attractiveness of the investment environment.
Analysts believe that if the index remains above this threshold, it could pave the way for further gains in the coming sessions, supported by companies' financial results and stable global oil prices, thus strengthening the Saudi market's position as one of the largest financial markets in the Middle East and North Africa region.
Parallel market performance (growth)
In a related development, the positive trend wasn't limited to the main market; it extended to the Saudi Parallel Market Index (Nomu), which closed up 113.33 points, reaching 22,610.31 points. Trading value in the parallel market reached SAR 11 million, while the volume of shares traded exceeded 1.3 million, underscoring the growing interest in promising investment opportunities in emerging and medium-sized companies.
