16.17 Saudi time: RIYADH: Elevated investor appetite following the budget surplus estimate of SR90 billion ($24 billion) led to a stronger bourse performance in the Kingdom.
Saudi Tadawul’s main benchmark TASI climbed 0.46 percent to 11,019.86 points, with approximately 232.28 million traded shares. Turnover stood at SR8.9 billion.
The parallel index Nomu was up 0.66 percent, reaching a three-week high of 24,146.34 points.
When compared to other indexes in the Gulf Cooperation Council region, Tadawul led the gains earlier today. At closing bell, UAE’s main index DFM was up by 0.46 percent, Abu Dhabi’s index ADI lost 0.4 percent, and the Qatari index QSI went up 0.31 percent.
The top movers in the Saudi bourse were AlSagr Insurance, Lazurde Co., and Sadr Logistics. The former two advanced almost 10 percent in today’s trading session.
Shares of Sadr Logistics hit a record high of SR132.4.
One of the market’s biggest players, Al Rajhi Bank was up 1 percent.
Batic Investments and Logistics Co. and Zahrat Al Waha for Trading Co. weighed the index down, declining 3.17 percent and 2.8 percent respectively.
Saudi Telecom Co. was the most traded stock in terms of value, with nearly 602.5 million worth of shares traded intraday.
The company saw a 2.43 percent rise in share price after consecutive losses in the previous week.
10.51 Saudi Time: Positive budget response by the Saudi stock market, TASI, Nomu up: Opening bell
RIYADH: Following the Saudi budget surplus estimate at SR90 billion ($24 billion), the stock market started the trading session in green territory as investors’ level of confidence in the market rose.
Tadawul’s main benchmark index TASI was up 0.78 percent to 11054.45 points while parallel market Nomu increased 0.25 percent to 24047.05 points in early trading.
The top gainer of the session was Eastern Province Cement Co., up 7.89 percent.
Al Sagr Insurance and Development Works Food were among the five highest-performing stocks in morning trading, rising up by almost 4.5 percent.
Losses were relatively trivial with shares of the top faller, Saudi Industrial Export Co., declining 1.58 percent.
Wafrah for Industry announced the resignation of its chief executive officer Maqid Alotaibi.
Bonyan REIT fund announced a 3.2 percent cash dividend at SR0.32 per share for the six-month period ending Oct.13, 2021.
Tourism Enterprise Co., shams, narrowed accumulated losses to SR56.9 thousands, representing one percent of capital.
Al Yamamah Steel Industries Co. declared the distribution of a 10 percent dividend at SR1 per unit for the six-month period ending Sept.30, 2021.
Suliman Al Habib Medical Group signed a SR94.5 million construction contract with Masah Construction Co. for its subsidiary Sehat Al Kharj Hospital.
Batic Investment and Logistics Co.’s SR300 million rights issue trading started today, Dec.13, and will end on Dec.23.
The subscription period to Saudi Economic and Development Securities Co.’s capital REIT fund will end on Dec.16.
Saudi Real Estate Co., Al Akaria, revised its capital increase recommendation to SR1.593 billion from SR1.6 billion.
