Editor's Note: the "Trending Saudi Stocks" column tracks the day's top bullish stocks in the KSA market, aiding investors in promptly identifying opportunities for potential gains.

At the close of 21/11/2024, the Tadawul All Shares Index dropped by 0.23%, closing at 11840.52 points; the Parallel Market Capped Index rose by 2.28%, closing at 30540.28 points. Sahm has compiled the Top 10 Daily Stock Price Gainers in the KSA market.

The Top 10 Daily Gainers in the KSA market are listed as follows:

Al-Baha Investment and Development Co.: The daily gain is 10.0%, reports robust YTD results, enhancing investor trust in the company's prospects.

Al-Baha Investment and Development Co.(4130.SA), a public entity listed on Tadawul since January 1993, operates in the Diversified Financials sector with a focus on Multi-Sector Holdings. Established in November 1992 and headquartered in Baljurashi, Saudi Arabia, the company has maintained its presence in the Saudi financial market for over three decades.

In a noteworthy development, the possible reason for the stock price increase of 4130.SA (Al-Baha Investment and Development Co.) may be its robust year-to-date performance, which has bolstered investor confidence. The company's shares surged 10.0% in a single day, contributing to an impressive 135.7% gain since the beginning of the year. Al-Baha's multi-sector investment strategy, focusing on diversified holdings across various industries, appears to be resonating with investors. The firm's long-standing presence in the market, having been listed on the Saudi Stock Exchange (Tadawul) since 1993, may also be providing a sense of stability and trust among shareholders.

Saudi Reinsurance Co.: The daily gain is 7.0%, Regulatory changes and strong Q3 results drive growth for Saudi Re.

Saudi Reinsurance Co.(8200.SA) operates as a publicly traded entity on the Saudi Stock Exchange (Tadawul) since 2008. Specializing in reinsurance within the insurance sector, the company is headquartered in Riyadh, Saudi Arabia. SAUDI RE's establishment and subsequent listing on Tadawul both occurred in May 2008, marking its entry into the Saudi financial market.

In a noteworthy development, the possible reasons for the stock price increase of 8200.SA (Saudi Reinsurance Co.) may be: 1. New reinsurance premium allocation mechanism: The Saudi Insurance Regulatory Authority announced a requirement for at least 30% of reinsurance treaties to be placed locally from January 1, 2025. This is expected to increase Saudi Re's reinsurance income from the Saudi market by over 5% based on 2023 financial results. 2. Strong Q3 2024 performance: The company reported a significant increase in earnings per share from 0.38 SAR to 4.49 SAR year-over-year. Revenue grew by 231% to 711 million SAR, and net profit jumped to 399.7 million SAR. The profit margin improved from 16% to 56% in Q3. 3. Positive market sentiment: The stock's year-to-date increase of 132.8% reflects strong investor confidence in the company's growth prospects. 4. Sector performance: The insurance sector's overall positive performance has contributed to the company's stock price increase.