Riyadh – Mubasher: The general index of the Saudi Stock Exchange (Tadawul) saw its highest rise in almost two months in terms of turnover and traded volume.
The positive performance preceded the announcements pertaining to the Kingdom’s “2030 Vision”.
The general index leaped 2.53% or 169.3 points and closed at 6,868 points, its highest level since 4 January.
Turnover surged, nearing an 8-month high of SAR 10.18 billion, while traded volume jumped towards a 4-year high with 598.87 million shares traded.
The real estate sector led gainers, rising 4.27%, followed by banks, telecoms, industrial investment and petrochemicals, which increased 4.03%, 3.47%, 2.49% and 2.42%, respectively.
Five sectors ended on a negative note, led by investment, which retreated 1.21%.
A total of 99 stocks ended in the green, led by Al Sagr Insurance, Arabia Insurance Cooperative, Jabal Omar and Samba, which surged 9.86%, 9.7%, 8.68% and 8.65%, respectively.
On the other hand, Arabian Pipes led fallers, losing 3.24%, followed by Saudi Vitrified Clay Pipes and Shaker, which were down 3.06% and 2.62%, respectively.
Deputy crown prince Mohammed bin Salman confirmed today that the overhaul of the housing sector will contribute to raising Saudi home ownership.
The Kingdom’s “2030 Vision” will not require a high price for oil, bin Salman highlighted, adding that the Vision will be launched regardless of the oil price.
“If oil comes to a halt by 2020, we can go on without it,” the deputy crown prince stated.
