The Saudi Stock Exchange main index, Tadawul All Share Index (TASI), recorded an increase of 44 points (0.4 percent) on the first session of September on Sunday. TASI closed at 12,189 points, with the total value of trading reaching about SR5.5 billion ($1.47 billion). This increase was supported by the banking and consumer services sectors, with companies like Al-Rajhi Bank seeing a one percent increase in share price, reaching SR88.80. The Amiantit share also saw a significant jump, topping the list of gainers in the market with a 9 percent increase to SR31.95. Another notable increase was seen in the share of Chemanol, which rose by 7 percent to SR16.62 after the company announced an agreement to produce methylethanolamine with a capacity of 25,000 tons starting in 2027. This positive momentum was reflected in the share prices of National Education Company, which recorded its highest closing since listing with a 4 percent increase to SR216, and Al-Akaria, which rose by about 3 percent to SR24.30 following an agreement to implement the Green Riyadh program water network worth SR660 million.
On the other hand, some companies experienced a decline in share prices during the session. The share of Aqua Power fell by more than one percent to close at SR416.80 amidst trading of about 75,000 shares. Similarly, the share of Bupa Arabia also fell by two percent, closing at SR227. Despite these decreases, the overall trend in the market was positive, with the Saudi Parallel Market Index (NOMU) ending the day by gaining 109.49 points to close at 26,270.61 points, valued at SR42 million. The total number of shares traded in the market was 3 million, indicating a relatively active trading day for investors.
The positive performance of the TASI on the first session of September reflects the confidence of investors in the Saudi stock market and the overall economy. The increase in trading value and the gains made by various companies signal a growing interest in the market, particularly in the banking and consumer services sectors. Companies like Al-Rajhi Bank, Amiantit, Chemanol, National Education Company, and Al-Akaria have all benefited from this trend, with their share prices seeing significant growth. These positive developments are not only a reflection of the individual success of these companies but also an indication of a strong and vibrant market that is attracting investment and driving economic growth in the region.
The agreements signed by companies like Chemanol and Al-Akaria demonstrate the commitment of Saudi businesses to expanding their operations and contributing to key initiatives such as the Green Riyadh program. These partnerships not only create new opportunities for growth and innovation but also showcase the potential for sustainable development in the region. As companies continue to invest in projects that support environmental sustainability and economic diversification, the Saudi stock market is likely to see further growth and attract more investors looking to capitalize on these opportunities.
While some companies experienced a decline in share prices during the session, this is a normal part of market fluctuations and does not necessarily indicate a broader trend. The overall positive performance of the TASI and the NOMU on the first session of September signal a stable and resilient market that is capable of withstanding short-term fluctuations. Investors should focus on the long-term potential of the Saudi stock market, which remains an attractive option for those looking to diversify their portfolios and capitalize on the growth opportunities in the region. As the economy continues to recover and diversify, the Saudi stock market is expected to remain a key driver of economic growth and prosperity in the region.
In conclusion, the positive performance of the Saudi stock market on the first session of September is a promising sign for investors and the overall economy. The gains made by companies in various sectors, coupled with the active trading activity on the TASI and the NOMU, indicate a healthy and growing market that is positioned for further growth. As companies continue to pursue new opportunities and drive innovation in key sectors, the Saudi stock market is likely to attract more investors and provide a platform for sustainable economic development in the region. With a strong foundation and a focus on long-term growth, the Saudi stock market is poised to remain a key player in the global market and a source of investment opportunities for years to come.
