Saudi Stock Market
The Saudi stock market, also known as Tadawul, has been performing well recently following an increase in oil prices on January 9. The index reached 10650 points, a 1.05% increase.
Impact of Oil Price Increase on Tadawul
The rise in oil prices, which increased by nearly 3% on Monday, has had a positive impact on the Tadawul. This is due to the fact that the oil industry plays a significant role in the Saudi economy, and an increase in oil prices can lead to a corresponding increase in the stock market.
Additionally, the Tasi index also saw an increase of 110.3 points to 10647.18 points due to transactions worth 4.2 billion.
Housing Rent Prices in Saudi Arabia 2023
Performance During Q4 2022
According to Hussain Al-Raqeeb, director of Zaad Consultant Center, the Tadawul saw a 9% decline during the last quarter of 2022 compared to the third quarter.
Al-Raqeeb also noted that in recent days, many Saudi investors have been shifting their investments from the stock market to safer sources such as bonds and deposits.
Trading Volume and Company Performance
On Monday, 136.6 million shares were traded in the Saudi market. Of these, 171 companies saw an increase in share value, while 39 out of 223 companies experienced a decline.
Companies such as Tehama, Amanatit, Ittihad Al-Khalij, Al-Bahr al-Ahmar, and Ma’adan saw their share value increase by between 4.52% and 9.99%. On the other hand, Redan, Al-Arabi, Abu Maati, Al-Wataniya Lal-Talim, and Senomi Retail saw a decrease in share value of up to 1.71%.
Outlook for Tadawul
While the recent increase in oil prices has had a positive impact on the Tadawul, it is important to note that the stock market is influenced by a variety of factors.
For example, economic and political developments, as well as global market trends, can all impact the performance of the stock market.
The Tadawul has consistently been a strong performer in recent years. In 2020, the index reached a record high of 3750 points, reflecting the overall strength of the Saudi economy.
It is worth noting, however, that the Tadawul saw a significant decline in early 2020 due to the global impact of the COVID-19 pandemic.
Conclusion
In conclusion, the Saudi stock market has been performing well recently following an increase in oil prices. While the Tadawul is influenced by a variety of factors, it has consistently been a strong performer in recent years.
It will be interesting to see how the stock market continues to develop in the coming months and years.
