TASI jumps 7.9% in Ramadan, posts biggest gain since 2017
- Date: 23-Apr-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
TASI jumps 7.9% in Ramadan, posts biggest gain since 2017
Tadawul All Share Index (TASI) closed out Ramadan in the green, soaring 7.9%, or 813 points, to 11,164 points. It opened the Hijri month at 10,351 points.
The benchmark index posted weekly gains during the month, recording the biggest rise since 2017, when it rallied 8.1%.
The holy month of Ramadan coincided with the beginning of the Q1 2023 earnings season. Seven companies have disclosed their financial statements until the end of Ramadan. More earnings announcements are expected once Saudi Exchange (Tadawul) resumes trading on April 25.
TASI raised its gains to 685 points, or 6.5% from between Jan. 1 and April 17.
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