Saudi Stock Market Achieves Gains for Second Month in a Row

The Saudi Stock Market Index “TASI” recorded gains for the second month in a row at the end of last July, supported by the strong profits announced by listed companies for the second quarter of 2024 in the Middle East region.

A recent report issued today, Thursday, by the research unit at Kamco Invest stated that the Saudi Stock Market General Index (TASI) technically succeeded in breaching the 12,000-point level and reached its peak at the end of the trading session on July 21, 2024, reaching the highest closing levels at 12,202.93 points.

The report indicated that the Saudi Stock Market General Index “TASI” headed slightly down at the end of the month to end July 2024 trading with gains of 3.7%, closing at 12,109.5 points, which is the highest levels recorded in three months.

The report stated that the positive performance of the index during that period was supported by a set of factors, including rising oil prices and strong profits announced by Saudi companies for the first half of 2024. This strong monthly performance contributed to enhancing the gains of the general index since the beginning of 2024 until now and moving it into the positive zone to record a growth of 1.2%.