2 years of Covid-19..What happened in Saudi market?

Saudi stock market closed below 6000 point on Mar 16^th 2020, at 5959.69 points, the lowest since Oct 31^st 2016, almost 4 years and half. Two years passed after that day when most of the market’s sectors settled lower.

According to data collected by Maaal, TASI leaped 108.19% or by 6447.91 points since Mar 16^th 2020, 9 sectors surged more than 100% , 4 other sectors rose 50%, while the remaining 8 ones soared over 25%.

Potential investment opportunities lie in crisis. This exactly what happened in the Saudi market which recovered from March 2020 low taking most of the pandemic’s shock, then, turned to big gains including tenfold gains of one share and fivefold gains of other two shares based on yesterday’s close.

Some of companies’ shares tumbled recently from highs on lack of stimulus or dividends.

Moreover, 53 companies in the market have seen their shares up more than 50%, 28 companies’ shares rose 25%, 23 ones rose less than 25%, while Alhokair shares have been the only loser of 8% from the pandemic crisis.