The Saudi stock market has exhibited strong momentum at the beginning of the year in a similar fashion to global equities. The fact that the epicenter of the crisis is doing fine is a testimony of the strength of equities and the growing appetite for risk, with Dow Jones Industrial Average crossing the 14,000 mark, which is the highest since 2007 and the broader S&P 500 off to best start since 1997. The domestic market (Tadawul) is buoyant despite the fact that the 7,000 level remains a psychological barrier.
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In January, Tadawul All-Share Index (TASI) closed at 7,043.55 points, gained 242.33 points (3.56 percent) over the close at the end of December 2012. The index gained 6.30 percent compared to the same period of the previous year (end of January 2012).
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Highest close level for the index during the month was 7,165.76 as on Jan. 12, according to a Tadawul report.
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The Tadawul index closed down 0.11 percent at 7,025.44 points yesterday.
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Read more: http://www.arabnews.com/economy/tadawul-market-cap-reached-sr-144-trillion-january
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