RIYADH: Saudi Arabia’s main stock market broke the 13,900 level for the first time in 16 years, amid a trading value of almost SR5 billion ($1.33 billion) on Monday. TASI, as the main index is known, surged over 100 points to hit 13,930, up 0.8 percent two hours into the trading session. With the latest gain, the index is up as much as 23.4 percent year-to-date. The rise was mainly buoyed by gains in the Kingdom’s largest valued bank Al Rajhi Bank, which saw its shares soar to a record high earlier in the day. Shares in the bank touched a record high of SR117.4 as of 10:30 a.m. Saudi time, in response to shareholders" approval to increase capital to SR40 billion through a bonus issue. Later in the day, the stock price slightly retreated to SR114.8.