Saudi Stock Exchange Ends Trading Higher after Early Losses

Saudi Stock Exchange Ends Trading Higher after Early Losses
Saudi Stock Exchange Ends Trading Higher after Early Losses

Saudi stock market (Tadawul) closed its trading's Monday with a slight rise; recovering the losses of Sunday's trading affected by the news of global developments related to the new COVID-19 variant, Omicron, which swept the global financial and energy markets.

Saudi Stock Exchange's main index ended trading higher, gaining 22.81 points to close, at 10,810.60 points; with the total value of the trading reportedly reaching $1.7 billion. At the same time, the toll of shares traded was 189 million, divided into over 350,000 deals.

Data showed that 112 companies recorded an increase in their value, while the shares of 80 companies declined.

Oil prices plummeted by more than 11 percent on Friday amid fears that the newly detected heavily mutated Omicron COVID variant could prompt more restrictions and lockdowns globally and slow oil consumption.

The Saudi Parallel Equity Market Index (NOMU) ended the day losing 42.30 points; closing at 22,331.94 points, with a valuation of SAR 110mn; and an overall tally of 2,600,000 stocks traded divided into as many as 5,080 deals.

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