As investors await Morgan Stanley Capital International (MSCI)“s today regarding its annual review of the Emerging Markets Index classification—which will reveal whether the Saudi market will be placed on the watchlist in preparation for its inclusion in the Emerging Markets Index.
The stock market index closed yesterday’s trading session with its strongest gain in seven months, hitting a three-month high and successfully breaking through the 7,000-point mark.
The index closed up 2.4%—its highest gain since November 23, 2016—during which it rose by 2.95%, gaining 165.14 points to reach 7,046.53 points.
Trading volume reached 4 billion riyals, with the banking sector leading the gains, spearheaded by Al Rajhi, up 5 %, and Al Ahli, up 3 % to 46.51 riyals, marking its highest closing price in a year and a half, SABIC shares closed up by about 2 % at 103.15 riyals, marking their highest closing price in two years.
