Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 1.73% or 120.3 points to 7,072.97 points at Wednesday’s open.

By 10:32 am KSA time, 32.2 million shares were exchanged at a value of SAR 742.6 million.

The food sector topped gainers and increased 2.2%, while the commercial services solely shed 0.02%.

The banks, telecom, and material sectors levelled up 2.19%, 2.1%, and 1.09%, respectively.

Moreover, the main index (NOMU) of Nomu-Parallel Market gained 1.09% or 42.39 points at 3,930.54 points.

Arab Sea topped the best performers and hiked 8.25% to SAR 14.4.

MSCI has said on Tuesday that it would consider classifying Saudi Arabia as an Emerging Market as early as next year; a move that could potentially divert billions of US dollars into the Middle East’s biggest economy, according to the Wall Street Journal.