Saudi Stock Index Set to Be First in Gulf to Erase 2020 Drop
- Tadawul index climbs as local retail investors turn to stocks
- Riyadh benchmark catching up with emerging-market peers
This article is for subscribers only.
Saudi Arabia’s main equity index is poised to be the first in the Gulf to erase losses accumulated in 2020 as local investors shrug off low oil prices and boost their exposure to stocks.
The Tadawul All Share Index advanced as much as 0.3% on Monday, climbing above its closing level on Dec. 31. Saudi Basic Industries Corp., Saudi Telecom Co. and Banque Saudi Fransi provided the biggest boost to the market by index points.