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Saudi market gains driven by pipes and real estate

Saudi market gains driven by pipes and real estate

The Saudi Stock Market (TASI) experienced mixed performance during Wednesday's session, with the main index declining by 0.80% to close at 11,012.18 points. Nonetheless, some leading and mid-cap stocks saw notable gains, especially in the pipes and logistics sectors. The stock of Arabian Pipes led the gains, increasing by 5.10% to reach 5.56 Riyals, with trading valued at 80.36 million Riyals. It was followed by Eastern Pipes, which rose by 4.75% to close at 205.2 Riyals, with a trading volume worth 84.52 million Riyals. Additionally, Taiba Company’s stock increased by 3.91% to 19.66 Riyals, and Sunaad Holding’s stock went up by 3.66%, closing at 8.77 Riyals, amid strong trading activity on some stocks like Petro Rabigh, which recorded a trading value of 189.48 million Riyals and rose by 2.56%. The results indicate that investors are focusing on pipes and logistics stocks despite the overall decline of the index.

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