TASI Surges 1.93% Above 10,489 Points With Turnover of SAR 851.7 Million Amid Foreign Investment News
TASI rose 1.93% to 10,489.60 on high turnover after foreign investment news, with most stocks up and large-caps leading gains.
The Saudi Stock Market (Tadawul) saw its benchmark TASI index climb by 1.93%, reaching 10,489.60 points (up 198.84 points), as of 10:13 AM.
Trading volumes exceeded 43.12 million shares, valued at SAR 851.7 million, across 55,995 transactions involving 266 companies. Advancers significantly outnumbered decliners, with 264 stocks up, one down, and one unchanged.
Top traded stocks by volume included Americana (8.4 million shares), Batik, Aramco, Al Rajhi, and Alinma. By value, Al Rajhi led (SAR 162.9 million), followed by Tadawul Group, Aramco, Alinma, and stc.
The biggest gainers were Tadawul Group (+6.64%), Saudi German Health (+5.51%), Nice One (+5.48%), Saudi Ceramic (+5.28%), and Shams (+5.27%). The only notable decliner was SMC Healthcare (-1.33%).
The market's strong performance is attributed to news on opening up to foreign investors, which has boosted risk appetite and focused liquidity on large-cap stocks. This regulatory change is expected to deepen market liquidity and improve price efficiency.
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