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Saudi Stock Market Index Closes Up for 14th Consecutive Session – Trading at Highest Level Since August 2022

The main Saudi stock index continued its daily trading in the green zone for the 14th session in a row, and closed up 12 points, or 0.1 percent, to close at the level of 12,607 points, with a trading value of 10.3 billion riyals ($2.75 billion), and the amount of shares traded reached 364 million shares. The shares of 100 companies increased in value, while the shares of 120 companies closed with a decline.

The Saudi parallel stock index (Nomu) closed down 316 points, closing at the level of 25,588 points, with a trading value of 30.8 million riyals ($8.21 million), and the amount of shares traded reached more than one million shares.

Continuous gains

Financial affairs researcher Ahmed Al-Abdullah explained that the Saudi market’s continuous gains for 14 sessions pushed the index to exceed 12,600 points, recording the highest close since August 2022, while the percentage of change since the beginning of the year in the market jumped to 5.34 percent after it was negative.

He pointed out that the decline in the shares of a number of large companies limited the index’s gains. “Saudi Aramco” shares declined by less than one percent at 31.65 riyals ($8.44), with a trading value exceeding 342 million riyals ($91.19 million), in line with prices. Oil, which returned to decline after it had been hovering near its highest levels in three weeks due to escalating tension in the region and the recovery of Chinese demand, and Brent crude futures fell to $82.79 per barrel, and US West Texas Intermediate crude for delivery next April fell to $78.81 per barrel. For next March, it will reach $79.45 per barrel.

STC stock rises

On the other hand, he added, “STC” shares rose by three percent at 42.80 riyals ($11.41), amid active trading of about 11 million shares, with a value of 460 million riyals ($122.65 million), and the company had announced the financial results for the fourth quarter of 2023. And regular and additional cash dividends, while the shares of “Al Rajhi Bank” closed at 90.70 riyals ($24.18), an increase of less than one percent, and the shares of “Al Rajhi Takaful”, “East Pipes”, “Jaco”, “Food Development” and “Naseej” rose. By six percent.

Business branding stock trading

Saudi Tadawul also announced that the shares of Wasm Al-Amal Information Technology Company will be listed and begin trading in the parallel market “Nomu”, starting tomorrow, February 21st, and said in a statement that the company will be listed with the trading symbol 9595 and the international symbol SA160GOKLTH1, and the number of… The shares are 390 thousand ordinary shares, representing 20 percent of the company’s shares.

She added that the daily price fluctuation limits will be (+/- 30) percent, with fixed price fluctuation limits applied at (+/- 10) percent. The company had set the final offering price at 49 riyals ($13.07) per share, while the percentage was Coverage is 404.77 percent of the total shares offered.

Kuwait Stock Exchange closes higher

On the other hand, the Kuwait Stock Exchange closed its trading with its general index rising by 40.99 points, reaching the level of 7,394.36 points, an increase of 0.56 percent, and 311.2 million shares were traded through 16,718 cash transactions, worth 71.4 million dinars ($217.7 million).

The main market index rose 29.76 points to reach the level of 6,054.11 points, an increase of 0.49 percent, through the trading of 138.9 million shares through 7,241 cash transactions, worth 15.9 million dinars ($48.4 million).

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The Premier Market Index rose 46.04 points to reach the level of 8,106.83 points, an increase of 0.57 percent, through the trading of 172.3 million shares through 9,477 transactions, worth 55.5 million dinars ($169.2 million).

In parallel, the Prime 50 index rose by about 18.53 points to reach the level of 5,957.15 points, an increase of 0.31 percent, through the trading of 107 million shares through 4,942 cash deals worth 13 million dinars ($39.6 million).

The Doha index rose 0.08 percent

In Doha, the Qatar Stock Exchange index closed at the end of its trading session with a slight increase of 8.69 points, or 0.08 percent, to reach the level of 10 thousand and 308.49 points. During the session, 171.151 million shares were traded, with a value of 480.723 million riyals ($132.03 million). ), as a result of implementing 18 thousand and 79 transactions in all sectors.

The shares of 19 companies rose during the session, while the prices of 30 other companies decreased, and two companies maintained their previous prices, and the market capitalization at the end of the trading session amounted to 594.706 billion riyals ($163.34 billion), compared to 594.234 billion riyals ($163.21 billion) in the previous session. .

Big discount in Muscat

The Muscat Stock Exchange “30” index closed today at 4,581.51 points, down 48.2 points, or 1.04 percent, compared to the last trading session, which amounted to 4,629.68 points. Trading value reached 1,568 million Omani riyals ($4.07 million), down 51.3 percent compared to The last trading session amounted to 3.222 million Omani riyals ($8.37 million).

The report issued by the Muscat Stock Exchange indicated that the market value decreased by 0.284 percent from the last trading day, and amounted to approximately 23.80 billion Omani riyals ($61.83 billion).

A slight decline in Manama

In Manama, the Bahrain General Index closed at the level of 2,048.51, a decrease of 2.60 points from the previous closing rate, due to the decline in the index of the luxury consumer goods sector and the financial sector, while the Bahrain Islamic Index closed at the level of 755.55, an increase of 0.78 points from its previous closing rate.

The quantity of shares traded amounted to 1.167 million shares with a total value of 400.169 thousand Bahraini dinars ($1.06 million), approximately 1.061 percent of which were executed through 66 transactions. Investor activity was concentrated in trading in financial sector shares, as the value of its traded shares amounted to 47.23 percent of The total value of securities traded.

Decline in Abu Dhabi market

In addition, the Abu Dhabi Securities Market index closed down by 0.1 percent at the level of 9400 points, with a total trading value of one billion dirhams ($272.26 million), and “Aldar Properties” shares closed down by about one percent, with nearly 10 million shares traded, while it declined Multiplay shares increased by 3.1 percent, with approximately 25 million shares traded.

“Dana Gas” shares fell by 0.8 percent, with trading exceeding 94 million shares, while “Abu Dhabi Commercial” shares fell by 0.1 percent, with trading exceeding 7 million shares. The most traded stock was “Ishraq Investment”, up by 7.4 percent, with trading exceeding 164 million shares.

Dubai stocks continue to rise

The Dubai Financial Market Index continued to rise for the eighth session in a row, by 0.1 percent, at the level of 4,277 points, with a total turnover of 340 million dirhams ($92.57 million), and the shares of “Emirates NBD” and “Dubai Islamic” rose by 0.5 percent. While Dubai Electricity and Water shares fell by 1.2 percent, with nearly 13 million shares traded.

“Emaar Properties” shares closed at their previous price, with nearly 9 million shares traded, while “Union Properties” shares fell by 1.3 percent, with nearly 18 million shares traded.

2024-02-20 16:40:55
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