Abdullah Al-Rabdi, Rasanah’s chief executive and CEO, confirmed in An interview with Al-Arabiya that the banking sector is driving the rise in the Saudi stock market, led by Al-Ahly and 6 other banks that have their highest annual level.
Al-Rabadi added that expectations of a rise in interest rates will soon be reflected in the profits of banks, such as Al-Ahly, as well as a number of small banks, which will make profits as a result of rising interest rates. .
Regarding the increase in shares of the Saudi stock exchange “Tadawul”, Al-Rabadi said that previous initial offers It is expected in the main and parallel markets, “Nomu”, will increase all profits Share Tadawul.
The leading Saudi stock index closed today in rise of 1.53%, gaining 178.72 points and closing at 11,843.55 points, with transactions worth 8 billion riyals.
The volume of shares traded was 185 million shares, shared by over 340 thousand transactions, in where the shares of 110 companies recorded an increase in value, while the shares of 85 companies closed.
The shares of the companies: Tadawul Group, Research and Media, ACWA Power, Al Arabiya and Nama Chemicals were the most profitable. As for the shares of the companies: Extra, Al Sagr Insurance, Amana Insurance, Catering and Arab Insurance, the lowest in trading, with increases and decreases between 9.88% and 2.21%.
While the shares of: Al-Inmaa, Dar Al-Arkan, Saudi Kayan, ACWA Power and Al-Rajhi were the most active in terms of quantity. Shares of companies: Al-Rajhi, Tadawul Group, ACWA Power, Alinma and Al-Ahly were the most active in terms of value.
The Saudi Parallel Stock Index (Nomu) closed today, in rise of 297.77 points, to close at 26,143.59 points, with transactions worth 162 million riyals. The volume of shares traded was over 790,000 shares, shared by 5123 operations.
Read More About: Business News