RIYADH: The Tadawul All Share Index managed to end the first half of 2022 higher than the previous year, despite market fears that have surfaced recently as investors’ optimism was dampened by interest rate hikes.

Saudi Arabia’s main index increased 4.9 percent during the first half of 2022 to close at 11,523, an increase of 539 points from the same period last year, the Saudi Exchange reported.

Total equity market capitalization grew 17.72 percent to reach SR11 trillion ($3 trillion) at the end of the first half.

The share trading value dropped 22.5 percent to SR1 trillion for the same period, while the total number of volumes traded fell 41.96 percent to 25.3 billion shares.

The total number of transactions executed in the first half decreased 10 percent to 46.97 million from 52.19 million a year earlier.

A total of 124 trading days were recorded during the first half of 2022, compared to 125 during the same period in 2021.