Saudi stock market close to hit its biggest annual leap since 2010: Opening bell

RIYADH: As of early trading, 10:16 a.m. Saudi time, Saudi bourse’s main stock index, TASI, started the session 0.21 percent higher at 11,295 points on its road to recording the biggest annual leap since 2010, having secured a 30 percent increase year-to-date.

The parallel market Nomu gained 0.37 percent to reach 26,644 points.

Saudi’s insurance sector led the gainers with Amana Insurance and Enaya rising around 5 percent each to SR37 ($10) and SR33.95, respectively.

Saudi Research and Media Group, known as SRMG, went up by 4 percent to SR183. The company has witnessed a 130 percent increase in share price in 2021.

The Kingdom’s banking leader, Al Rajhi Bank, rose to SR142 with over SR16 million worth of shares changing hands in the morning.

Losses were minor as the major market movers of the session soared in early trading.

The session’s biggest faller so far was Jabal Omar Development Co. which declined nearly 1 percent to SR26.9.

Jabal Omar has increased on Dec. 23 its share offer to Alinma Makkah Real Estate Fund’s manager to settle payment obligations owed by the developer to the fund.