The Saudi Stock Exchange benchmark index Tadawul All Share Index (TASI) saw a rise of 27 points (0.22 percent) to end its session at 12,253 points on Tuesday. This increase came after two consecutive sessions of decline, demonstrating the market’s stability at the support level of 12,240 points. The total turnover for the session reached approximately SR 6.4 billion. The main index had previously risen by 4.7 percent in the third quarter of 2024. Trading values experienced a 26 percent decrease, with most investments going towards small companies rather than medium companies. The index for medium companies showed a slight increase of 0.6 percent. Stocks such as Saudi Aramco and Al-Rajhi Bank saw modest rises of less than one percent to SR27.20 and SR87.40 respectively.
Al-Baha emerged as the top gainer during this session, experiencing a 9 percent increase to SR0.24, with approximately 320 million shares traded. The company’s shareholders approved the purchase of a 13.04 percent stake in its subsidiary Elegant Centers. Additionally, the shares of Tadawul Group, NCLE, ADES, Arab Sea, Zoujaj, and Anaam Holding all saw increases ranging between 3 percent and 5 percent. Among the various sectors, six recorded a decline while the remaining sectors showed growth. Financial services stood out as the top rising sector with a 2.5 percent increase, whereas public utilities led the declining sectors with a 1.5 percent decrease. The “basic materials” sector saw the least amount of trading activity with a value of SR1.1 billion.
Overall, the market displayed resilience and positive movement, with the TASI index showing a steady rise after a brief period of decline. The increase in turnover and the performance of various sectors highlight the market’s ability to adapt to changing conditions. Despite fluctuations in trading values, the rise in the main index and the growth in certain stocks indicate investor confidence in the market. The approval of major transactions, such as Al-Baha’s purchase of a stake in Elegant Centers, also contributes to the positive sentiment in the market. Moving forward, continued monitoring of sector performance and investment trends will be important to assess future market movements.
The rise in the TASI index on Tuesday signifies the market’s ability to maintain stability and recover from recent fluctuations. The increase in turnover and the positive performance of various sectors bode well for investor confidence in the market. With six sectors recording growth and financial services leading the way, there is a sense of optimism surrounding the market’s future prospects. Additionally, the approval of key transactions, such as Al-Baha’s acquisition of a stake in Elegant Centers, demonstrates the market’s resilience and ability to attract investments. By focusing on sector trends and investment opportunities, investors can make informed decisions to navigate the market effectively and capitalize on potential gains.
Saudi Aramco and Al-Rajhi Bank, two key players in the market, saw incremental increases in their stock prices, indicating steady growth and investor interest. The rise in Al-Baha’s stock and the approval of its acquisition plans further reinforce the market’s positive momentum. With trading values experiencing a decrease but with a focus on small companies, there is potential for further growth and investment opportunities in the market. By staying informed about sector performance and key transactions, investors can position themselves to make strategic investment decisions and benefit from the market’s upward trajectory.
In conclusion, the recent rise in the Tadawul All Share Index reflects the market’s resilience and adaptability to changing conditions. With sectors showing growth and key players such as Saudi Aramco and Al-Rajhi Bank performing steadily, there is reason for optimism in the market. The approval of major transactions and the rise in Al-Baha’s stock price further underscore the positive sentiment among investors. By staying informed about market trends and investment opportunities, investors can navigate the market effectively and capitalize on its potential for growth and profitability. As the market continues to show stability and positive movement, investors can position themselves to benefit from the opportunities it presents.
