TASI surges 112% from March 2020 trough

Tadawul trading screen

Tadawul All Share Index (TASI) closed March 16 session at 12,656 points, skyrocketing 112%, or 6,696 points, compared to the trough recorded on March 16, 2020.   

On March 16, 2020, the Saudi benchmark dropped to the lowest level since 2016, shedding 5.2% to end at 5,960 points, as many stocks fell their daily limits. 

In March 2020, TASI extended losses to dip below the 6,000-mark on the emergence of COVID-19 as a global pandemic and the related precautionary measures to contain its spread. 

The Saudi gauge improved gradually during that period, backed by the Kingdom’s support for various business sectors to mitigate the pandemic impact, the gradual lifting of precautionary measures, and the significant rise in oil prices.

All stocks, except for Fawaz Abdulaziz Alhokair that dipped 8%, closed yesterday on a positive note, when compared to March 16, 2020.

Arab Sea was the top gainer, surging 1,073%. It was followed by Development Works Food (+589%) and Shams (over +550%).

Al Rajhi Bank, SABIC Agri-Nutrients and Saudi Kayan rose by 202%-212%.

On the other hand, Bahri gained the least during the two-year period, adding 6%. ACIG and Amiantit advanced 11% and 16%, respectively.

Shares of Savola, Almarai and Jabal Omar recorded gains between 18% and 21%.