The Saudi market index “TASI” rose during the week by 1.7%, achieving gains for the third week in a row, closing at 11495.7 points, recording an increase of 187.6 points.

The TASI rose by 1.7%, achieving gains for the third week in a row, closing at 11495.7 points, recording an increase of 187.6 points.

TASI consolidates gains for the third consecutive week

This positive performance, supported by the rise of most market sectors, came at a time when the Kingdom is witnessing a radical shift in its policies towards allowing foreign investors to own stakes exceeding 49% in listed companies, enhancing the chances of attracting new capital inflows and giving a strong boost to the Kingdom's stock exchange.

This positive performance was supported by the rise of most sectors of the market.

Saudi stocks

The market value of Saudi stocks witnessed a remarkable increase of 161.1 billion riyals (about 43 billion dollars) during the week, bringing the total market value to 9.3 trillion riyals, a growth rate of 1.7%.

According to the weekly bulletin, Saudi stocks traded at SAR 33.18 billion with a trading volume of 1.68 million shares, through 2.87 million transactions.

According to the weekly bulletin. <The performance of the sectors was positive, with the basic materials sector leading with an increase of 3.5%, followed by the telecommunications sector which recorded a rise of 2.95%. The energy and banking sectors saw growth of 1.7% and 1.04%, respectively. In contrast, three sectors saw declines, with media and entertainment down 1.7%, insurance down 0.8%, and financial services recording marginal losses of 0.03%.

Financial services recorded marginal losses of 0.03%.

In contrast, three sectors saw declines.