The Saudi stock market is up by 1.6%, supported by the banking and petrochemical sectors


Saudi shares started their trading today, Sunday, with an increase in the general index of the market by about 1.6 percent, with the support of the banking and petrochemical companies sectors (basic materials).

The Saudi newspaper, Al-Iqtisadiya, reported that the Saudi market is trading at the level of 7160 points, with the index rising 112 points, or 1.59 percent.

                    REUTERS / FAYEZ NURELDINE

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Shares of Riyad Bank are trading up 3.66 percent, Saudi-French by 0.34, Saudi-British 3.49 percent, Samba Financial Group 1.02 percent and Al-Rajhi Bank by 1.96 percent.

The shares of Saudi Petrochemical Company (SABIC) rose by 0.86 percent, and the Saudi oil giant 0.15 percent, to trade at about 33 riyals ($ 8.8).

These gains come in light of life gradually returning to normal in Saudi Arabia, where the number of hours of economic activity is scheduled to increase, starting from Sunday from six in the morning until eight in the evening.

It comes within the second stage of the return to normal life, which includes the return of employees to work and the resumption of domestic flights, as well as the opening of internal requests to restaurants and cafes, according to specific precautionary and preventive measures.

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