RIYADH: The Saudi main index, TASI, ended higher for a second consecutive month, defying a global economic downturn sparked by inflation and rising interest rates.
The Tadawul All Share Index ended August gaining 0.69 percent to reach 12,283 at the closing bell of Wednesday's session.
The index was fuelled by a sustained rise in crude prices, which remained above $100 per barrel for nearly a week.
The gain was primarily driven by a 15.52 percent leap in Public Investment Fund's digital security firm Elm, which topped the monthly gainers' list.
Saudi pharma operator Nahdi ticked up 9.39 percent for the month, while its rival Aldawaa Medical Services Co. gained 3.65 percent.
Bank Albilad outperformed all other banks during the month, gaining 4.4 percent, followed by Al Rajhi, the Kingdom’s largest valued bank, which gained 1.91 percent.
Saudi National Bank, the Kingdom’s largest lender, saw its share price rise slightly by 0.43 percent.
Both Bank Aljazira and the Saudi British Bank topped the list of the worst performing banks with 8.62 percent and 3.32 percent, respectively.
Leejam Sports Co. led the market fallers with 22.5 percent, whereas Mouwasat Medical Services Co. followed with 5.55 percent.
