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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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