Shares of oil giant Saudi Aramco surged 3 percent to touch their highest level since listing of SR46.1 ($12.3) on Sunday.
Media reports said that amid trading of almost 10 million shares, the stock price slightly retreated to SR45.8 later in the day at 12:07 p.m. Saudi time.
The oil major now holds the second largest market valuation globally of SR9.15 trillion.
This comes as oil prices continue to spike, beefing up energy companies even as Ukraine-Russia tensions rattle stock markets globally.
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