The Saudi stock market tracks the oil trail upwards… and “TASI” rises 1.19%

The Saudi stock market rose at the end of trading today, Thursday, as the index rose by 1.19%, benefiting from oil gains.

Oil prices rose in trading today, Thursday, extending the gains of the previous session, with improved demand expectations in China and growing concerns about the impact of sanctions on Russian supplies.

Brent crude rose $1.14, or 1.38%, to $83.9 a barrel by 12:30 GMT, while US West Texas Intermediate crude also rose $1.02, or 1.32%, to $78.43 a barrel. Both benchmarks rose 3% in Wednesday’s session, to settle at their highest levels since December 30.

The TASI index added 126.73 points at the level of 10744.22 points, with transactions worth 5.16 billion riyals.

The volume of traded shares amounted to 186.4 million shares, in which the shares of 119 companies recorded an increase in their value, while the shares of 87 companies out of a total of 223 companies declined.

The shares of: SACO, Al-Jouf, Al-Khaleej for Training, Electrical Industries, and Development were the highest, with rates ranging between 4.51% and 3.33%. 2.95% and 1.83%.

While the shares of: Americana, Al-Ahly, Shams, Dar Al-Arkan, and Al-Rajhi were the most active in quantity, and the shares of: Al-Ahly, Al-Rajhi, SABIC for Agricultural Nutrients, Shams, and Americana were the most active in value.