- Islamabad
- 32.7°C
- Today ( Tuesday, 22 April 2025)
- Home
- Stock Market
- Saudi Stock Market on Track for Highest Annual Closing in 18 Years
Saudi Stock Market on Track for Highest Annual Closing in 18 Years
The Saudi stock market is poised to achieve its highest annual closing level in 18 years, with the Tadawul All Share Index (TASI) rising by approximately 13.5% since the beginning of 2023 until the year's end. The market successfully reversed last year's losses of 7.1%, aiming to close above 11,800 points, marking the highest since 2005 when the index reached 16,713 points. The market concluded trading for the year on Sunday. The influx of liquidity and sustained activity in offerings played a crucial role in supporting the market. Additionally, the approval of various amendments and regulatory measures aimed at enhancing the efficiency of the Kingdom’s stock exchange and attracting investment contributed to this positive trend. Key amendments implemented this year included the enforcement of the new Companies Law and its executive regulations from the start of 2023, the adoption of rules governing foreign investment in securities, amended financial adequacy rules, revisions to the executive regulations of the Companies Law for listed companies, and the opening of the real estate sector in Makkah and Madinah for foreign investment. The Capital Market Authority canceled its share of the commission for trading sukuk and bonds and announced the commencement of accepting applications for the "Alternative Trading Law."
-
In the ever-evolving world of smartphones, two industry titans, Apple and Samsung, continue to vie for dominance with their flagship devices – the iPhone and the Samsung Galaxy series. As consumers face an array of choices, deciding between these technological powerhouses invo...
-
Once a titan in the mobile phone industry, Nokia's descent from its pinnacle of success in the early 2000s has been a subject of scrutiny and speculation. While the Finnish company was once synonymous with mobile innovation and durability, its failure to navigate the transitio...
Get Newsletter
Subscribe to our newsletter to get latest news, popular news and exclusive updates.
Facebook Comments