Foreign investors maintained their share in the Saudi stock market, which for the third week in a row remained above 5.1 percent.
The Saudi bourse is one of the international markets that is witnessing a series of positive reforms and investment inducing decisions.
Meanwhile, Saudi Stock Exchange (Tadawul) showed a steady rate of foreign investments at 5.11 percent on closing Thursday. This reflects trust in the financial market and the high level of confidence the Saudi economy enjoys.
The Stock Market closed this week 0.1 percent down, at 8,242 points, with only a 10-point drop.
Companies listed in the Saudi market are expected to announce their revenues and financial results within the coming three days with 117 enlisted firms already announcing their results with a 2.1 percent increase during this year’s first half compared to the same period last year.
On Sunday, Tadawul announced that net purchases of direct foreign investments reached $8.2 million, and foreign investments reached through mutual agreement amounted to $70.1 million (net) during the same week.
Net purchases of Saudi companies reached $1.09 billion over the past week, while the net purchases of the investment funds amounted to $32.6 million.
Saudi General Authority for Statistics (GASTAT) said that the GDP of the non-oil sector in Saudi Arabia achieved positive growth of 1.6 percent during the first quarter of this year.
Saudi GDP rose 1.2 percent at the end of the first quarter to reach $172.7 billion compared to $170.7 billion during the same period last year, data showed.
Non-oil GDP increased 1.6 percent by the end of the first quarter of this year, reaching $98.9 billion.
GDP of the oil sector rose 0.6 percent to $72.8 billion compared to $72.4 billion of the first quarter of previous year.
The International Monetary Fund (IMF) recently praised the positive economic reforms adopted by Saudi Arabia, describing the implementation of some of the initiatives aimed at increasing non-oil revenues as significant achievements.
