The Saudi stock index reached its highest rate since August 2015 during last week’s trade, while the market index closed at 2.25 percent gains amid a noticeable increase in traded monetary liquidity.
The Saudi stock market is among the world’s strongest markets in terms of gains achieved in 2018.
Morgan Stanley is expected announce on June 20 its decision regarding the possibility of upgrading the Saudi stock market to the emerging global markets.
This remarkable performance in the Saudi markets reflects the positive development of the Kingdom’s economy following the announcement of its greatest ever spending budget, which was approved for 2018.
Several economic reports predicted new prospects that would push capital to investment in several listed firms in the Saudi stock market.
These reports assessed the feasibility of investment while maintaining the centers controlled by investors in several sectors, starting with banking, petrochemicals and telecommunications.
In this regard, the Saudi stock market index closed the week’s trade with gains of 2.25 percent reaching 8,344 points compared to last week’s 8,161.
The Saudi stocks market index reached the highest record in three years last week, at 8,407 points.
Trading during that period rose remarkably, reaching around SAR19.89 billion (USD5.3 billion) compared to around SAR16.09 billion (USD4.29 billion) in the previous week.
