TASI rises 11% since Eid Al-Fitr 2017

Saudi Arabia’s Tadawul All Share Index (TASI) jumped 11 percent, or 844 points in the period between July 2017 and June 12, 2018 (Eid Al-Fitr this year and last year), extending its solid performance for the second consecutive year, data compiled by Argaam showed.

The benchmark index closed at 8,270 pts ahead of Eid Al-Fitr holidays, compared to its closing at 7,426 in the same period last year.

The market gained 14 percent, or 1,044 pts for the period from Jan. 2018 until the end of Ramadan, driven by several factors, mainly Tadawul’s inclusion in the FTSE Russell emerging market index.

MSCI will announce Saudi Arabia EM upgrade status on Jun. 20.

For market performance, gains were supported by 83 stocks. Saudi Research and Marketing Group was the top advancer, surging 195 percent, followed by Petro Rabigh (+147 percent YoY) and eXtra (+109 percent YoY). 

Shares of Tasnee, Saudi Kayan and Dar Al-Arkan rose between 51 percent and 72 percent.

On the other hand, 90 companies retreated, dragged down by GO which tumbled 54 percent.

It was followed by MedGulf and Wafa Insurance (-52 percent) and Jabal Omar (-46 percent).

Blue chips Al Rajhi Bank and SABIC closed 25 percent and 24 percent higher YoY, respectively.

Almarai also added 25 percent, followed by Savola (22 percent).

*Capital cut during the period.