DUBAI: Saudi Arabia’s stock market rose on Thursday in the first session of the New Year, while most other regional bourses remained closed.
Saudi Arabia’s benchmark index gained 0.6 percent, supported by broad-based buying led by consumer staples, information technology and utilities. Riyad Bank rose 1.7 percent and ACWA Power added 1.2 percent.
Saudi Arabia’s National Debt Management Center said on Wednesday it had completed arrangements for a USD13 billion, seven-year syndicated loan to help finance power, water and public utilities projects.
Among individual stocks, Al Khaleej Training and Education jumped 7.6 percent after its unit signed a contract with the Saudi Electricity Regulatory Authority to operate and manage the authority’s contact centre and digital channels.
In Oman, the stock index edged up 0.5 percent, with most constituents higher. OQ Exploration and Production gained 1.4 percent and Oman Telecommunications climbed 1.6 percent.
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