The Saudi Arabian stock market continued its upward trend, closing at 11,202 points, marking its highest level since May 21. This growth was driven by broad gains across most sectors, with the exception of the utilities sector, which saw a slight decline. The regional sentiment improved, helping the market recover from losses previously caused by Iranian-Israeli tensions.
Investors were closely watching the general assembly meeting of ACWA Power, a company listed under the utilities index, where a proposal to double the company’s capital to SAR 14 billion was expected to be voted on. In the transportation sector, the newly listed Nas Air stock returned to its initial offering price of SAR 80, while Aramco shares remained stable at SAR 24.24 despite a minor increase in oil prices.
Among the top performers, Naseej Al Alamia Al Tijaria rose by 9 percent, marking its strongest gain in 14 weeks. Saduq led the list of gainers, rising by 10 percent to reach SAR 30. Cenomi Retail followed closely, with its shares jumping by 9 percent to SAR 22.39, continuing its positive momentum over the past three months, during which it gained nearly 150 percent.
Other Gulf markets also recorded mixed gains. Kuwait’s stock index rose by 1.75 percent, followed by Bahrain with a 0.85 percent increase, and Qatar with a 0.78 percent gain. Oman’s Muscat Securities Market was the only one to decline slightly, falling by 0.15 percent.
— News from (publisher): الشرق الأوسط