Saudi Stock Market Closes on Positive Note

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WEEKENDING Friday May 27, 2022: Price Index increased by 102.38 points, Market Capitalization improved by SR 226 billion

Ghiasuddin in Jeddah: There was mixed trend in Oil market. WTI price reduced by 5.02%  and Brent increased by 1.77 % as compared to prices last week. WTI and Brent were seen trading lately at US$110.33/barrel and US$114.03.04 per barrel respectively. The price of gold enhanced slightly by 0.38% and traded at US$ 1848.20/Oz recently.

The Saudi Arabian Stock Market turned to positive. Tadawul All Share Index increased by 102.38 points (0.82%%) and closed at 12530.4 on WoW basis. Due to positive trend,  Market capitalization improved by SR226 billion and summed to SR12,105 billion.

The price of Saudi Aramco moved within SR38.80 and SR41.45 during the week and closed at SR40.70 depicting an increase of 2.35%. Due to improvement of price, its market capitalization enriched by SR209 billion totaling to SR8954 billion (US$2.361 trillion).

Heavy turnover (5.963 billion) was noticed in Kingdom Holding. There was private sales transaction of 625 million shares which is not included in this turnover. Main shareholder and founder of the company HRH Prince Al-Waleed bin Tallal Al Saud sold 16.87% of his shares to PIF (Public Investment Fund) at SR 9.09/share.  He is still holding 78.13% of the Company shares. This huge transaction created optimism for the company and its price amplified by 11.11% on WoW basis and ended at SR 10.10. The 2nd highest turnover was observed in Rajhi Bank in which shares valued to SR 4.109 billion exchanged hands and its price improved slightly by 0.43% and finished at SR 93.90. Shares worth SR1.869 billion were traded in SABIC, however, its price tumbled by 5.86% and closed at SR112.40. Shares worth 1.854 billion were traded in Saudi National Bank, however its value depleted by 3.72% and settled at SR67.20. There was lot of activity in Alinma bank (turnover  SR 1.770 billion) and its price amplified by 5.70% and ended at SR38.00.

Top gainer of the week was Kingdom Holding whose price was enriched by 11.11%. Saudi German Health Services was the 2nd best performer as its price enlarged  by 10.17% and closed at SR 37.90. Investors were confused about Maaden as its book closing for 100% Bonus shares is coming nearer (30.5.2022). Therefore, its demand increased resulting in price hike by 9.82% on WoW basis and ended at SR123.00. The prices of Al-Gassim Investment Holding and ACWA Power augmented by 9.65% and 9.63% and ended at SR24.10 and SR141.20 respectively.

The top loser of the week was Anaam Holding which became ex-right and its price depleted by 21.70% and closed at SR35.85. Amana Insurance announced that they submitted the application to CMA to increase the capital from SR130 million to SR430 million by issuing Right  Shares worth SR300 million -considered a good news for the shareholders. However, its price tumbled by 17.86% and closed at SR23.82. The value of Mahara plunged by 13.37% and closed at SR66.10. The prices of Wataniya Insurance and Burjj Insurance plummeted by 11.11% and 10.08 respectively.

SADAFCO declared 30% dividend which was the best dividend of the week, and its price slightly improved by 0.12% and closed at SR168.00. Qassim Cement announced  5% cash dividend with Book closing on 19.5.2022, which is already over. Distribution will take place on 6.6.2022. Wafrah announced that shareholders’ meeting will take place on 15.6.2022 for approval  of 200% Right Shares. Its price improved 4.8% on WoW basis and closed at SR126.80. There are 2 trading days left for the eligibility of 100% Bonus shares offered by Maaden. The book closing is on 30.5.2022.