Riyadh, Saudi Arabia – The Saudi Stock Market’s general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its highest level since August 2020. The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes.
The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher.
The Tadawul All share added 0.14% to hit a new 52-week high at the close.
The worst performers of the session were Arabian Internet and Communications Services Co CSJC (TADAWUL:7202), which fell 5.28% or 20.80 points to trade at 372.80 at the close.
Closing the previous week at 11,796.63 points, the index demonstrated a notable monthly gain of approximately 5.8%.
A memo from Al Jazeera Capital, released a few days prior, had already pointed to the upward trajectory of TASI, predicting a move towards greater positivity as it approached the 12,500-point level.
The optimistic trend is being propelled by financial performances that have surpassed the expectations of investors.
