Saudi Arabia’s benchmark Tadawul All Share Index (TASI) surged 2%, or 164 points, to 8,290 points in the first hour of trading on Thursday on the back of easing regional tensions.

 

The advance-decline ratio stood at 195:0.

 

Blue chip SABIC gained 1.3% to SAR 91.60, while banking heavyweight Al Rajhi went up 2% to SAR 65.50.

 

Oil giant Saudi Aramco rose 0.6% to SAR 34.35, with 4.9 million shares being traded.

 

Riyad Bank surged over 4%, STC was up 1.5% and Jabal Omar gained 2.2%.

 

Sharqiyah Development was the top gainer, rising 7.4% to SAR 53.

 

Elsewhere, Dubai's main share index soared 1.4%, while Abu Dhabi index rose 1% in early trading. Kuwait stocks also surged 1.4%.

 

To contact the writer, email Parag Deulgaonkar at parag.d@argaam.com

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