Saudi Arabia’s Tadawul All Share Index (TASI) saw gains in the first week after Eid Al-Fitr holiday in 12 years, while it retreated in three years, a survey conducted by Argaam showed.
TASI rose between 4 and 7 percent in the first week after Eid in 2003, 2004 and 2009, while gains throughout the other years came below 3.5 percent.
In 2006 and 2008, the benchmark index retreated by 12 percent and 17 percent, respectively, due to the global recession.
Last year, TASI recorded a drop for the first time in eight years, down 3 percent.
Trading resumed today, with only two sessions for the first week after Eid.
Investors are anticipating MSCI’s announcement on the potential upgrade of Saudi Arabia to an emerging market (EM) status today.
|
Saudi Market Performance During 1st Week After Eid AlFitr |
|||
|
Year |
Opening (Points) |
Closing (Points) |
Variation (%) |
|
2003 |
4,200 |
4,372 |
+4.1% |
|
2004 |
7,734 |
8,128 |
+5.1% |
|
2005* |
15,617 |
16,077 |
+2.9% |
|
2006 |
10,545 |
9,328 |
(11.5%) |
|
2007 |
7,807 |
8,083 |
+3.5% |
|
2008* |
7,459 |
6,161 |
(17.4%) |
|
2009 |
5,948 |
6,322 |
+6.3% |
|
2010** |
6,306 |
6,354 |
+0.8% |
|
2011 |
5,979 |
6,124 |
+2.4% |
|
2012 |
7,004 |
7,139 |
+1.9% |
|
2013 |
8,072 |
8,131 |
+0.7% |
|
2014 |
10,215 |
10,552 |
+3.3% |
|
2015** |
9,338 |
9,373 |
+0.4% |
|
2016 |
6,500 |
6,662 |
+2.5% |
|
2017 |
7,426 |
7,204 |
(3.0%) |
|
2018 |
8,270 |
?? |
?? |
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