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TASI posts 0.19% gain at midday
The Saudi stock market closed today with a slight increase of 0.19%, bringing the Tadawul All Share Index (TASI) to 11,053.43 points, with trading valued at approximately 1.86 billion riyals. The rise was supported by the basic materials sector, especially after Sabic announced approval from the Ministry of Energy to allocate feedstock for the construction of a new methanol plant with a capacity of 1.8 million tons annually, which led to a 1.13% increase in the company's stock. Active stocks such as Makkah Oil, GASADCO, and Dammam Market experienced notable trading activity, while some stocks, including the Cooperative, Riyadh REIT, recorded sharp declines following significant volatility in their prices. The session also included announcements of dividend distributions and memoranda of understanding, as well as record-high price levels for certain stocks. Additionally, liquidity levels increased, supported by continued negotiated trades within the book-building process.
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