Saudi Market (TASI) Ends Week with Modest Gain Amid Geopolitical Concerns

The general index of the Saudi market (TASI) concluded the week with a slight increase of 0.4%, closing at 11,840 points, despite ongoing concerns about escalating geopolitical tensions. However, the market value of stocks dropped by approximately 3.9 billion riyals, reaching 10.13 trillion Saudi riyals.

The total trading value for the week amounted to 25.9 billion riyals, with 2.7 billion shares exchanged through 2.2 million transactions. Medgulf Insurance Company led the list of top performers, rising by 21.8%, while the National Commercial Bank topped the decliners with a 7.5% decrease. Additionally, Sabic Global saw a drop of 6.5%, followed by the Fourth Mills Company, which declined by 6.4%.

In terms of trading volume, Al-Bahah Company’s stock maintained its position as the most traded stock for the third consecutive week, with a volume of 1.6 billion shares.

Regarding the banking sector, stocks exhibited mixed performance. Al Rajhi Bank’s stock rose by 3.5%, while the National Bank's stock saw a modest increase of 0.3%. Conversely, the First Saudi Bank’s stock fell by 0.8% by the end of the week.

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