Saudi market rises as industry and insurance lead
The Saudi Stock Exchange "TASI" index rose by 0.32% to close at 10,858.14 points, amid strong performance in the manufacturing and insurance sectors, which saw notable increases in their stock prices. The share of United Wire Factories Company increased by 9.94% after announcing financial results that showed profit growth and improved profit margins. Meanwhile, shares of Middle East Gulf Insurance, Walaa and Takaful Insurance, Packaging and Printing, Astra Industrial, Hassan Gazi Shaker, and SABIC Agricultural Nutrients experienced gains ranging roughly between 4.4% and 8.97%. Trading was concentrated on these stocks, with values between 5 million and 73 million Saudi riyals, supported by news of company results and the signing of new distribution agreements. These factors reflect investor confidence and market stability.
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