What you need to know as Tadawul approaches 2021’s trading season finale

What you need to know as Tadawul approaches 2021’s trading season finale

RIYADH: Amid last week’s dominating theme of initial public offerings and dividends, Saudi stocks soared to end the trading week higher as investor sentiment boosted. Saudi Arabia’s main stock index, , last closed at 11,271 points, up 111 points from a week earlier and up 30 percent year-to-date, marking its biggest annual leap since 2010. With the latest gain, TASI has almost fully recovered after reaching a four-month low on Nov. 30, 2021 – four days after the new omicron variant was declared a “variant of concern”. The hike came in line with Gulf countries since all GCC main stock indexes ended the previous trading session in green territory. The UAE’s index closed 0.6 percent higher, followed by Abu Dhabi’s index and Oman’s which rose by 0.4 percent each. Bourses of Kuwait, Qatar, and Bahrain all saw trivial gains between 0.1 and 0.2 percent. Elsewhere in the Middle East, the Egyptian index went up by 1 percent. crude oil retreated $0.71, or 0.92 percent, to $76.14 per barrel on Friday, while US crude was up 1.42 percent to $73.79 per barrel.