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Saudi Stocks Record Best Closure in 6 Months

Saudi Stocks Record Best Closure in 6 Months

Wednesday, 16 January, 2019 - 09:15
Saudi stocks record best closure in six months. (Reuters)
Riyadh - Shujaa al-Bogmi
Saudi Arabia’s Tadawul All Share rose 0.9 percent on Tuesday and closed at 8,347 points, rising 77 points. This was the highest closure in around six months amid trading value of around SAR3.2 billion (USD853.3 million).

Variable gains were witnessed among the 98 companies that are listed in the market. This reflects investor confidence in capital market trading and the listed Saudi firms’ capability to achieve better results than the positive ones reached in 2018.

In addition, the market value of Saudi stocks rose to SAR1.96 trillion (USD522.6 billion) – a figure close to the level achieved a year ago.

The shares market is among the world’s most growing markets, gaining 600 points in recent days alone.

The Saudi economy is forecast to reach more positive growth rates in 2019 compared to 2018 in line with the Kingdom’s package of economic reforms that seek to diversify the economy and bolster investment.

Listed firms are expected to announce their results for the fourth quarter of 2018 and they are projected to be better than the figures achieved in 2017.

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