Saudi Gazette report

RIYADH — The Saudi stock market continues to rise, with the index now exceeding 13,800 points.

The Saudi stock market finished trading on May 8, in the first session after the Eid Al-Fitr vacation with gains, boosted by a rise in the Aramco shares.

Due to fears about supply shortages and Europe's predisposition to prohibit Russian oil within six months, Aramco's shares profited from advances in oil prices at the end of trade last week, which hit $113 a barrel.

Aramco's stock increased 2.12 percent to SR45.85 at the closing, with SR635.6 million in trades.

The Saudi market index increased by 0.61 percent to 13,820 points, with 60 shares rising in price and 145 falling in price.

The total trading value at the end of the day was SR6.6 billion, with 140 million shares traded.

Saudi Enaya 9.9%, Amana Insurance 9.8%, and Petro Rabigh 8.5 percent had the biggest percentage gains, while Saudi Cables 6.6 percent, Elm 4.3 percent, and Saudi Real Est 3.8 percent had the highest percentage declines.

The Bahrain stock market index lost 0.67 percent to 2,040 points, while the Muscat stock market index fell 0.14 percent to 3,152 points.

To 13,558 points, the Qatar Inch Index fell 0.24 percent. The Dubai and Abu Dhabi stock exchanges are both closed for the weekend.