The stock market continues to rise, supported by the rise in oil and the performance of companies

The stock market continued its good performance during the first six weeks of this year, supported by improved results in the fourth quarter of 2020, and oil prices exceeded $ 60. The index is currently approaching 8900 points, its highest closing level since July 2019, after the year 2020 transactions were concluded with the best performance among the Middle East stock exchanges, in a year that was hit by the Corona pandemic, and the market capital gained about 76.37 billion riyals, during the year 2020, to increase the value The market for shares listed in Tadawul reached 9.102 trillion riyals compared to 9.03 trillion riyals by the end of 2019. The Saudi stock market was able to end 2020, with a positive outcome, after it witnessed strong rises in the fourth quarter, in light of the gradual return of economic activity, and the reaching of effective vaccines to eliminate On the pandemic. The financial market was subjected to strong fluctuations and faced several challenges, which cast negative shadows on the market’s performance in the first months of the year, but the bold decisions of the government, as part of its plan to mitigate the repercussions of Corona and the fluctuations of global oil prices, addressed these challenges. The general market index “TASI” increased by 3.58% during 2020, adding 300.3 points to its balance, which jumped to the level of 8,689.53 points by the end of the 2020 sessions, compared to 8,389.23 points by the end of 2019. The general index witnessed the highest closing level in 2020 at 8,760.08 points. .

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *