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Real estate market in Saudi Arabia

TASI gains momentum as economic fears subside: Closing bell

RIYADH: Saudi Arabia’s main index ended higher for a second session following a sharp drop earlier in the week sparked by economic concerns.

The Tadawul All-Share Index rose 1.39 percent to reach 11,120 at the end of Wednesday, while the parallel market Nomu rose 1 percent to 19,916.

Saudi oil giant Aramco ended with a 1.31 percent gain, while Rabigh Refining and Petrochemical Co. climbed 3.27 percent.

The Saudi National Bank, the Kingdom’s largest lender, increased by 0.65 percent, while Saudi British Bank increased by 0.95 percent.

The Kingdom’s highest valued bank, Al Rajhi, rose 0.25 percent, while Alinma Bank gained 0.29 percent.

The Saudi Public Transport Co. jumped 4.22 percent, after winning an SR88 million public bus transport project with Taif Municipality.

Maharah Human Resources Co. added 1 percent, after securing a long-term Murabaha loan worth SR200 million from Al Rajhi Bank.

National Gas and Industrialization Co. topped the gainers with a 9.94 percent gain, followed by Al Hassan Ghazi Ibrahim Shaker Co. with a 9.24 percent gain.

The fallers list was topped by Al-Baha Investment and Development Co. with a 3.06 percent decline, followed by Naqi Water Co. with a 2.64 percent decline.

 

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