Saudi Gazette report

RIYADH — All Tadawul Share Index (TASI), the benchmark Saudi stock market index, rose for the fifth consecutive session on Sunday, rising nearly one percent (134.37 points) to close at 11,202 points, its highest level since May 21.

The total value of traded shares amounted to SR5 billion. The Saudi Parallel Market Index (NOMU) also closed higher, gaining 195.03 points to settle at 27,248.13 points, with a total trading value of SR39 million.

The Saudi market was able to regain levels seen before the outbreak of Iranian-Israeli conflict. This was supported by broad gains across most sectors, with the exception of the utilities sector, which recorded a slight decline. Most Gulf markets registered gains during Sunday's trading session, driven by improved regional sentiment.

The public utilities and consumer goods retail and distribution sectors recorded a decline of 0.09 percent and 0.02 percent, respectively, while the media and entertainment sector led the gainers, increasing by 7.5 percent. Basic materials was the highest traded sector, with a value of SR780 million.

In the transportation sector, the shares of newly listed Flynas returned to SR80, the same offering price, while Saudi Aramco's shares stabilized at SR24.24, despite a slight increase in oil prices.

Naseej International Trading shares rose 9 percent, their strongest gain in 14 weeks, while Sadaq led the gainers with a 10 percent rise to SR30. Sinomi Retail shares came in third place in terms of gainers, jumping nearly 9 percent to SR22.39, continuing its positive performance over the past three months, during which it recorded gains of nearly 150 percent.

Investors are awaiting the general assembly meeting of ACWA Power, a company included in the utilities index, on Monday, where a vote will be held on a proposal to double the company's capital to SR14 billion.

Across the rest of the Gulf markets, most stock exchanges recorded varying gains. The Kuwait Stock Exchange index rose 1.75 percent, followed by Bahrain with a 0.85 percent increase, and Qatar with a 0.78 percent rise. Meanwhile, the Muscat Securities Market bucked the trend, declining slightly by 0.15 percent.