Aramco is regaining the $2 trillion level, and Saudi stocks are rising

Most Gulf stock markets closed higher on Monday, with the Saudi index hitting its highest level since November.
The Saudi index rose 1.2 percent after the share of oil giant Aramco jumped 4.7 percent, to 34.65 riyals, to restore the company’s market value above $2 trillion (7.62 trillion riyals).

Farah Murad, senior market analyst in the Middle East and North Africa division at XTB, said the Saudi stock market continued to make gains, supported by positive sentiment and strong local market fundamentals. “However, the main index may experience some price corrections if investors move to lock in their gains at the next open,” she added.
But the Qatari index fell 0.6 percent, affected by a 2.3 percent decline in the shares of Industries Qatar, which produces petrochemicals.

The Egyptian Stock Exchange was closed for an official holiday.