Saudi Stocks Surge 3.1% Amid Geopolitical Concerns

Saudi stocks ended this week's trading on a strong note, with a notable rise of 3.1%, stabilizing at 11,994 points. This translated into nearly 10 billion riyals in market gains, despite continued concerns over the potential impact of escalating geopolitical tensions on investor sentiment.

The market capitalization of Saudi stocks increased to 10.017 trillion riyals this week, an uptick of 10.1 billion riyals compared to the previous week. Trading activity reached 34.6 billion riyals, with 3.6 billion shares changing hands across 2.6 million transactions.

A key highlight of the week was the listing of shares from "Al-Majid for Oud" on Monday. The stock soared 79% by the end of the week, making it the top performer in terms of trading value, with total trades amounting to 2.5 billion riyals over the first two sessions.

"Al-Majid for Oud" also led the gainers with a 79% surge, while shares of "Al-Bahah" posted modest growth. On the flip side, "Thimar" experienced the sharpest decline, losing 10%.

In terms of trading volume, "Al-Bahah" took the lead with 905 million shares traded. In the banking sector, "National Commercial Bank" and "Al-Rajhi" saw declines of 1.3% and 4.3%, respectively.

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