Thu Sep 19 17:07:00 UTC 2024: ## Saudi Stock Market Soars, Led by Al-Naifat, Halwani Brothers, and Etihad Atheeb

**Riyadh, Saudi Arabia** – The Saudi Stock Exchange (Tadawul) experienced a significant surge on Thursday, with the main index, TASI, closing at 12,080.47, marking a 1.34 percent increase of 159.53 points. The robust performance saw 152 stocks gain value, while 73 declined, with a total turnover of SR9.47 billion.

Notable gains were witnessed in the shares of **Al-Naifat** and **Halwani Brothers**, reaching their highest levels since July 2023 at SR16.32 and SR69.40, respectively. **Al Moammar Information Systems (MIS)** saw its stock rise to an all-time high during the session.

Other significant gainers included **Etihad Atheeb Telecommunication Co.**, whose shares climbed 7.95 percent to SR95, and **Red Sea International Co.** and **Saudi Automotive Services Company**. The positive trend was further strengthened by the rebound of several companies after an initial dip, driven by the strong performance of **Red Sea International**, which hit its daily limit after securing contracts worth SR1.5 billion.

Despite the overall market uplift, **Banque Saudi Fransi’s (BSF)** stock experienced a decline, reaching its lowest point since February 2023 at SR32.45.

Meanwhile, the Kingdom’s parallel market, Nomu, experienced a downward trajectory, losing 1.01 percent, closing at 25,337.96 points.

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