The Saudi stock market continued to rise on the second day of trading this week. The Tadawul All-Share Index (TASI) closed 16.54 points higher at 9,649.93. The index is higher by 21.64 percent so far this week after falling over 52 percent last year. In the banking sector, shares of Riyad Bank increased by 2.02 percent to SR75.75 and Samba Financial Group by 1.66 percent to SR152.50, according to a report published today by Arab News. Saudi Hollandi Bank (SHB) shares edged higher slightly to close at SR56.25 despite the Kuwait-based Global Investment House (Global) downgraded SHB to “hold” from “buy” on the stock. At the current market price, SHB's share is quoting at a premium of 5.9 percent to its fair value, the report said. --MORE
