Saudi Tadawul, Kingdom Holding Shares Soar After Prince Alwaleed Freed

The Saudi Stock Exchange (Tadawul) started Sunday in the green after its main Tadawul All Share Index (TASI) rose 0.07% or 5.62 points, reaching 7,527.26 points.

By 10:28am local time, TASI’s trading volume reached 21.06 million shares, with a liquidity of SAR 455.81 million.

The diversified financials, media, telecommunication services, and banks sectors increased 5.5%, 2%, 1.5%, and 0.1%, respectively.

On the other hand, the materials sector shed 0.5% and consumer durables and apparel sectors 0.4%.

Kingdom Holding Company’s stock jumped almost 10%, whereas MetLife AIG ANB Cooperative Insurance Company’s stock tumbled 8.8%.

Shares in Kingdom Holding company soared at the opening on Sunday after the company's owner, Prince Alwaleed bin Talal, was released after being detained for over two months in a corruption probe. 

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Meanwhile, NOMU, the main index of the Nomu-Parallel Market, slipped 0.06% or 1.79 points to 3,095.73 points.

The stocks of Abo Moati for Bookstores’ stock and Al-Omran Industrial Trading decreased 1.3% and 1.2%, respectively, whereas Al-Samaani Factory for Metal Industries’ stock levelled up 14.8%. - Mubasher