After three straight sessions of fall, the flagship index of the Saudi Stock Exchange, the Tadawul All Share Index (TASI), returned to gains over one percent, rising at its fastest daily pace since late June.
The index gained 145 points and ended Monday’s trading session up 1.2 percent at 11,914 points. The total revenue was approximately SR7 billion. On the day, about 7.2 million shares valued at SR 600 million were exchanged.
Due to geopolitical concerns, TASI had a 2.2 percent drop in the first three days of October and a 5% drop from its top over the previous week. The banking industry, led by the Al-Rajhi share, which increased 5% to SR84.20 on Monday, helped the Saudi index rebound throughout the session.
On its launch, Almajed Oud surged 30% to SR122.20, with over 226,000 shares trading. Red Sea, Anaam, Al-Baha, and Al-Omran all had a 10% increase. Almarai increased to SR56.50, a 2 percent gain. For SR 263 million, the company’s subsidiary agreed to buy Jordan’s Hammoudeh Food Industries.
The Saudi Aramco share, on the other hand, dropped by roughly 0.2 percent to SR26.95, the lowest since last August. Additionally, there was a 1-3 percent decline in the shares of Kingdom Holding, Advanced, SASCO, and Budget Saudi Arabia.
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