The Saudi Market Closes Higher in the Pharmaceutical, Goods, and Insurance Sectors

Saudi Arabia witnessed a notable development in vital sectors on Saturday as attacks reached the capital for the first time.

Exclusive – Al-Khabar Al-Yemeni:

The Saudi market closed early today on a rise in several sectors, most notably insurance, food commodities, and pharmaceuticals, while the rest of the sectors recorded a collapse, including the energy sector, whose shares fell by 3%.

The rise in the aforementioned sectors came with the recording of the first aerial attack on the capital, Riyadh, where the city was subjected to a series of missile and drone attacks during the hours from Friday evening until Saturday evening.

The significant rise in the index of those sectors is an indicator that the situation is heading towards the worst, given the expectation of supply crises with the closure of airspace, in addition to the escalation of purchasing in anticipation of any emergency, especially in the consumer goods sectors. Meanwhile, insurance indicates that the expected cost due to the strikes will be very large.

The majority of Saudi cities, foremost the capital, Riyadh, are being subjected to waves of aerial attacks, causing disruption to air navigation movement, adding to a naval blockade that Yemen has been imposing for weeks.