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  • 03-01-23

    Saudi Arabia’s Tadawul closes Monday’s session 31 points higher to reach 10,578

    (MENAFN) Saudi Arabia’s Tadawul All Share Index saw a rise of 31.67 points — or 0.30 percent — on Monday to end standing at 10,578.34, picking up from Sunday’s 68 points surge.

    The overall exchange turnover of the main index on Monday surged to reach an amount of SR3.67 billion (USD980 million) from Sunday’s SR2.3 billion (nearly USD611 million). The increase-decrease ratio endorsed the market sentiment as 176 shares of the registered 223 saw an increase whereas 36 were on the negative territory.

    The small pickup in the exchange turnover is motivating, mainly following the International Monetary Fund managing head Kristalina Georgieva on Sunday cautioned that a third of the world would deal with a recession in the new year.

    The turnover stayed subdued in 2022 as the oil-led financial stoppage raised worries in investor sentiments. The overall volume of stocks exchanged in 2022 decreased by 35 percent to reach 43.5 billion stocks in comparison with 66.9 billion in the year before.

    MENAFN03012023000045014228ID1105376773

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