Saudi Arabia’s stock market posted modest gains this week as key sectors and new partnerships drove momentum. The main index edged up, with most stocks rising and notable performances from companies in insurance, construction, and media.
Red Sea International saw its stock jump nearly 10%, while Allied Cooperative Insurance also performed strongly. In contrast, Riyad Bank experienced the largest drop among major stocks. The market was further energized by a significant civil nuclear technology agreement between Saudi Arabia and the US, signaling deepening ties in the energy sector.
Media also played a role, as Saudi Research and Media Group’s multi-year services contract led to a notable share increase. United Mining Industries Co. marked a successful transition from the parallel market, and Tadco’s renewed agreement for hydroponic greenhouse development helped boost its stock.
These developments underscore Saudi Arabia’s push to diversify its economy. Growth in insurance, technology, and media, alongside strategic international partnerships, points to a broader vision that could strengthen the country’s economic and geopolitical position beyond its traditional oil base.