The Saudi stock market rises for the second consecutive session

The Saudi stock market closed today, Thursday, up for a second consecutive session, in light of the oil price hike that preceded the OPEC Plus meeting today, Thursday, but prices fell after the announcement. the results of the meeting.

The main index “TASI” increased by 0.30%, or 32.8 points, to the level of 10882.79 points.

Trading in the market recorded 5.11 billion riyals, after trading 139.64 million shares, while the market value of the total shares was 9.71 trillion riyals.

During today’s trading, 193 shares have risen, while 54 shares have declined.

The “Sadr” share is in tops the list of high shares by 9.96%, then food development by 9.94% and “Baazeem” by 9.78%.

First, however, “Naseej” with a percentage of 5.59%, then “Al-Khaleej Training” with 2.56%, then “Dur” with 2.36%.

In terms of the most active exchanges, Dar Al-Arkan’s share is in tops the list with 9.28 million shares, then Alinma 6.72 million shares and Aramco 5.29 million shares.

Al-Rajhi’s actions are in top of the liquidity list with a value of 401 million riyals, then SABIC 185.1 million riyals and Aramco 184.7 million.

Hisham Abu Jameh, CEO of Mikyal Financial Technologies, said the dips in the Saudi market in the last period have been sudden and unexpected.

He explained that there has been a huge demand for speculative action in past sessions, amid expectations of a tightening of US monetary policy and fluctuations in oil prices.

In his interview with Al-Arabiya, he added that investors will soon return to big stocks, with the return of stability to oil prices and the certainty of the impact of the new virus on the economy.

In Qatar, the leading index rose 0.4% after Qatar National Bank, the largest bank in the Gulf, rose 2.9%, while Industries Qatar rose 1.7%, according to Reuters .

However, Masraf Al Rayan’s share, which is compatible with Islamic law, fell by about 3%, after increasing by almost the same percentage in the last session, after completing the merger with Khaleeji Commercial Bank.

The Qatar index recorded its third consecutive weekly loss.

Outside the Gulf region, the Egyptian Stock Exchange’s main equity index fell 0.9%, impacted by a 1.1% decline in the share of Commercial International Bank, Egypt’s largest bank.

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