Riyadh - Mubasher: The Saudi Stock Exchange’s (Tadawul) main index, Tadawul All Share Index (TASI), is expected to see a positive performance in the upcoming months, according to a recent report by Jadwa Investment.
According to the report, TASI witnessed in December its highest level in 12 months, continuing its rising trend for the third consecutive month, thanks to the rise of oil prices and the kingdom’s announcement of the 2017 public budget.
The forecasted performance by TASI comes in line with the general sentiment towards regional and global indices, the report added.
Saudi Arabia announced by the end of December the public budget for the year 2017 with revenues amounting to SAR 692 billion and a total expenditure of SAR 890 billion, with an expected budget deficit of SAR 198 billion.
The benchmark index of the Saudi market went up by 3% in last December with gains totalling 210.25 points, raising its total gains in 2016 to 4.3%, after two years of decline.
