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FinancialNews


  • 15-12-22

    TASI closes Wednesday’s session at 10,248 points ahead of US Fed decision

    (MENAFN) Saudi Arabia’s share market regained a muffled surge of 26.98 points to finish at 10,248 on Wednesday, exercising caution in advance of the US Federal Reserve’s interest rate verdict.

    The Tadawul All Share Index reach an amount of 10,386 at 10:27 AM Saudi time, driven by the brief positivity about US inflation figures issuing a lower-than-estimated rise during November.

    The similar market Nomu also dropped 75 points to close at 18,641.19.

    “Trading activity dropped slightly as investors awaited the US Fed Reserve’s view on future rate hikes in its final rate hike move for the year today,” Junaid Ansari, senior vice leader of investment plan and research at Kamco Investment Co., informed Arab News.

    On the other hand, the higher-decrease ratio was positive as 154 shares of the overall 220 rose, whereas 49 decreased. The overall exchange income was almost SR5.2 billion (USD1.38 billion).

    “Saudi market was up for the second consecutive day, albeit marginally, mainly reflecting gains for most sectors that was partially offset mainly by a drop in the banking sector index,” according to Ansari.

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