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FinancialNews


  • 14-12-22

    TASI regains at Tuesday’s end finishing at 10,221 points

    (MENAFN) Saudi Arabia’s main index recoded a massive regain on Tuesday as the worldwide indices showed bravery ahead of the US inflation figures outcomes estimated this week.

    The result might persuade the US Federal Reserve to continue with hawkish interest rate rises.

    Tadawul All Share Index ended rising 187.95 points — or 1.87 percent –to finish standing at 10,221.14 points. The regain came following the index drop 105.12 points on Monday, along with the worldwide indices.

    “Saudi market witnessed the biggest single-day gain in almost two months, defying the declines across all major markets in the Gulf Cooperation Council countries during the day,” Junaid Ansari, senior vice leader of investment strategy and research, Kamco Investment Co., informed Arab News.

    Ansari added, “The TASI index maintained the upward trajectory since the start of the day amid a broad-based rally with almost all sectors closing in the green. The index gains reflected oversold stocks with a steep declining trend seen since the last week of October.”

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