Rimel Kouki, Lubna Sameer Khalaf & Rami Mohammad Abu Wadi
The aim of this study is to examine the short term effect of COVID-19 on the stock performance of banks listed on the Saudi Stock Exchange (“Tadawul”). Banks were selected according to their market capitalization. The study period was classified into pre-crisis period and Covid 19 crisis period. The data consist of 193 daily price observations of the banking sector. The period of study is ranging from 25th August 2019 to 31st May 2020. Findings reveal that momentum effect is persisting with banking stocks as the baking stocks are moving in accordance with the general benchmarking index.