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FinancialNews
17-07-22
Saudi Arabia’s stock market closes week at lowest rates in years
(MENAFN) Saudi Arabia’s share market ended the previous week at one of its worst rates in years on the back of increasing recession worries.
TASI, the benchmark index, closed Thursday’s session with a 1.1 percent decline at 11,163 points, following its close at 11,417 prior to the Eid Al-Adha holiday.
In another place in the Gulf, Abu Dhabi, Dubai, as well as Oman increased by 0.9, 1.3 plus 0.7 percent, in that order, on Thursday.
Bahrain’s BAX dropped 1.2 percent, whereas stock exchanges of Kuwait and Qatar saw a minor fall.
UAE bourses continued earns on Friday, as oil costs surged in reply to reports that an instant Saudi oil production increase was not anticipated.
Brent crude recoded 2 percent up at USD101.16 per barrel, whereas US main West Texas Intermediate increased to USD97.59 per barrel.
The TASI Islamic Index the Saudi Exchange confirmed the introduction of its first Shariah-compliant index.
MENAFN17072022000045014228ID1104542035
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