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Saudi Gazette report
RIYADH — The Saudi Stock Exchange benchmark index, Tadawul All Share Index (TASI), rose at its best daily pace since last June, returning to achieve gains exceeding one percent after three consecutive sessions of decline.
The index closed Monday’s session up 1.2 percent at 11,914 points, gaining 145 points. Total turnover reached about SR7 billion. More than 7.2 million shares worth SR 600 million were traded on the day.
TASI recorded a decline of 2.2 percent during the first three days of October, and lost five percent from its peak during the past week, affected by geopolitical tensions. During Monday’s session, the Saudi index returned to rise, supported by the banking sector, led by the Al-Rajhi share, which rose by 5 percent to SR84.20.
Almajed Oud jumped by 30 percent on debut, reaching SR122.20, amid trading of about 226,000 shares. Al-Baha, Red Sea, Al-Omran and Anaam rose by 10 percent. Almarai gained by 2 percent to SR56.50. The company’s subsidiary signed an agreement to acquire Jordan’s Hammoudeh Food Industries for SR 263 million.
In contrast, the Saudi Aramco share fell by about 0.2 percent to SR26.95, its lowest level since last August. Also, shares of Kingdom Holding, Advanced, SASCO, and Budget Saudi Arabia fell by 1-3 percent.
