Jarir, GIG Hit 52-Week Highs on Saudi Exchange on June 17

Jarir and GIG shares each hit their 52-week highs on June 17, data compiled by Argaam showed.

Jarir, the Saudi retailer of consumer electronics and books, and Gulf Insurance Group (GIG) both reached their highest closing prices in a year on the Saudi Stock Exchange (TASI). The exact closing prices were not disclosed in the data.

A 52-week high is a technical milestone that often draws attention from momentum traders and value investors alike. For Jarir, the move extends a period of relative strength in the retail sector. For GIG, the insurance sector has seen increased interest with rising premiums and economic growth in the kingdom.

The broader TASI index has been trending higher in recent months, supported by higher oil prices and government spending. The index's performance on June 17 was not immediately available.

The 52-week highs were recorded on June 17, according to Argaam.