Saudi market rises 0.7% supported by leading stocks and company results
TASI rose 0.7% supported by leading stocks and Yanbu National Petrochemical (Yansab) results, while shares of several companies declined following financial announcements.
The Saudi main market index (TASI) ended Wednesday's session up 0.7%, gaining 77 points to close at 10,775 points, with total trading value of approximately 3.8 billion riyals.
The index recorded its highest level during the session at 10,775 points, while the lowest level was 10,706 points.
The market's rise was supported by the performance of several leading stocks, as Saudi National Bank (Al Ahli Saudi) rose 3% to close at 39.90 riyals, and Yanbu National Petrochemical (Yansab) rose 4% to 32.56 riyals, after the company announced its second quarter results for 2026, which came above market expectations.
Shares of SABIC, Saudi Energy, First Bank, Ma'aden, Advanced, Topy, Saptco, and Amak rose by between 2% and 4%.
In contrast, shares of Saudi Kayan, Research and Media, MBC, Saudi German, Mutakamila, Solutions, and Al-Mawarid fell by between 1% and 4%.
Shares of Eastern Pipes fell by the maximum limit to close at 198.90 riyals, after the company announced its financial results for the first quarter ended June 2026.
Shares of Saudi Pharmaceutical (Aldawaia) rose 4% to 30.68 riyals, after Acdima announced the sale of 10% of the company's capital to two investment funds.
Original source: Asharq Al-Awsat
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