RIYADH: Awaiting the final budget allocation for 2022, Saudi’s stock exchange saw gains today with most of the stocks ending the session in positive territory. The level of gains was slight, but noteworthy amid plenty of stock market uncertainty.
Tadawul’s main and parallel indexes, TASI and Nomu, both closed this session higher, up 0.28 percent and 1.66 percent to 10,969.06 points and 23,986.86 points respectively.
All up almost 10 percent, the five highest performers of the day were Al Omran Industrial Trading, Wafrah for Industry, Development Works Food, National Gypsum, and Middle East Specialized Cables.
The top faller was Sadr Logistics, despite coming in the top five gainers for a week straight. The company’s share price was down 3.49 percent, partially shrugging off its consecutive gains.
Saudi’s Telecom Co., stc, saw significant losses, declining 2.73 percent to close at SR107 ($28.52). The stock hit a one-year low of SR103.2 intraday.
Finishing up as the biggest mover in terms of value and volume, stc slightly dragged the index down with approximately 121.3 million shares traded in today’s session.
TASI down 0.14% in early trading, SADR hits another all-time high: Opening Bell
RIYADH: Tadawul’s TASI fell slightly in morning trading, down 0.14 percent to 10923.48 points. Parallel market Nomu rose 0.43 percent to 23695.58 points.
The biggest moving stocks of the day so far were Development Works Food, National Gypsum Co, and Sadr Logistics, up 9.94 percent, 9.9 percent, and 7.14 percent respectively.
Shares of Sadr Logistics were trading at another all-time high of SR135 ($35.98) earlier.
Saudi’s Telecom Co., stc, and Hail Cement Co. were among the biggest losers, down 4.73 and 4.32 percent respectively.
stc witnessed 773 negotiated deals on its shares amounting to SR10.8 billion as of Dec.12.
Subscribers injected SR104.8 million into Maadaniyh’s rights issue, covering 86.73 percent of the total offered shares. The unsubscribed shares offering period will start on Dec.14 and end on Dec.15.
Yanbu Cement Co. announced a 10 percent cash dividend at SR1 per share for the second half of 2021.
Shareholders of Tourism Enterprise Co., shams, approved the board’s recommendation to reduce capital by 48.21 percent.
Moody’s maintained a stable outlook for Alrahji Company for Cooperative Insurance, assigning it an A3 rating.
9.33am Saudi time: A week ahead guide to brace for trading amid volatility: Tadawul premarket
RIYADH: Saudi Arabia’s stock market has taught investors to expect the unexpected during this volatile trading period, mainly caused by coronavirus’ new omicron strain.
Here is what you need to know before kicking off the trading week:
Saudi Tadawul’s main and parallel indexes, TASI and Nomu, closed the prior week at 10938.88 points and 23594.98 points respectively.
Within the six-day period ending Dec.9, TASl fell 1.83 percent while Nomu was up slightly by 0.08 percent.
The Kingdom’s second biggest initial public offering of the year after ACWA Power, amounting to $1 billion, Saudi Tadawul Holding Group soared almost 20 percent on debut.
The stock price of the group last closed at SR126 ($33.6), having registered the highest volume and value traded two days into listing on TASI.
Top performing stocks of the week were Sadr Logistics, Development Works Food, and Wafrah for Industry.
Sadr Logistics continued its six-day winning streak to end at an all-time high of SR126.
Shares of Development Works Food and Wafrah for Industry were up 21.08 percent and 18.44 percent respectively in six days.
The hike in Development Works Food followed the board’s recommendation on Dec. 9 to increase capital by SR216 million through a rights issue.
am Saudi Wafrah’s request to expand capital through a rights issue worth SR154.3 million is still pending the Capital Market Authority’s approval. The request was submitted on Dec. 1.
Petro Rabigh was the lowest-performing stock of the week, down 8.5 percent to SR21.2.
The fall in Petro Rabigh’s stock came after the company’s 13.76 percent capital decrease recommendation, which was announced on Dec. 6.
Here’s some latest market movements:
Arabian Shield Co. announced the approval of the proposed merger with Alahli Takaful Co. in addition to the approval to increase the company’s capital to SR638.5 million.
Meanwhile, having approved the merger, Alahli Takaful declared the start of creditors’ objection period on the merger deal as of Dec. 12.
Al Hammadi Co. announced the approval to distribute cash dividends of SR72 million for the year 2021, adding that interim dividends can be distributed on a semiannual or quarterly basis in 2022.
Jabal Omar Development Co. and Bank AlBilad signed a SR1 billion loan facility agreement.
Al Moammar Information Systems Co. acquired a SR220 million loan that complies with Islamic sharia.
Saudi’s Telecom Co., stc, set the final price of its secondary shares offering at SR100 per share.
Two of the Kingdom’s biggest insurance firms, Saudi Enaya and Amana announced the board of directors’ circular regarding their previously agreed-upon merger deal.
Post-merger ownership will be as follows: a majority stake of 55 percent for Saudi Enaya and the remaining 45 percent will be owned by Amana, as announced on Dec. 9.
Jahez International Company for Information Systems Technology set the price range of its IPO on Nomu between SR750 and SR850 per share.
The offering period will commence on Dec. 23 and end on Dec. 26.
Saudi Economic and Development Securities Co. increased its capital REIT fund’s asset value by nearly SR702 million via additional real estate units.
Ataa Educational Co. reported a 1247.4 percent increase in net profit after zakat and tax for the three-month period ending Oct. 31, 2021, in contrast to the corresponding period last year.
This came as the number of admitted students rose by 49 percent following the acquisition of other educational institutions.
The subscription period to Saudi Economic and Development Securities Co.’s capital REIT fund will start today, Dec. 12, and end on Dec. 16.
Batic Investment and Logistics Co.’s SR300 million rights issue trading will start on Dec. 13 and end on Dec. 23.