Saudi Tadawul index tops 10,000-mark for first time in nearly 7 years

The index was trading 0.4 percent higher at 10,025 points at noon UAE time

  
A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) crossed the 10,000-point level for the first time since November 2014 in early trade on Wednesday.

The index was trading 0.4 percent higher at 10,025 points at noon UAE time. Turnover hit 2.4 billion riyals ($640 million) in the first hour of trading.

Notable stocks that rose in value are Savola Group which 2.7 percent and is trading at 41.35 riyals and Halwani Bros. Co. which jumped 2.8 percent to 114.2 riyals.

(Reporting by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

More From Equities