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TASI falls slightly; turnover at SR8.7bn
The Saudi stock market (Tadawul) retreated to 6,802.94 on Sunday, which was roughly where it started the day. The Tadawul All-Share Index (TASI) lost about 28 points during the day but bounced up and down to close at 6,802.94 levels, just 1.09 points down. General perception of the investors remained negative and Saudi stocks declined a little from earlier levels.
The Telecom and IT sector was the top gainer in the market as the index closed at 1,902.15 points. Mobily shares up by 2.13 percent to close at SR60.00. Perhaps, the investors were encouraged after the announcement that Mobily had refinancing agreement of SR10 billion with seven local banks to refinance three of its existing long, medium and short term loans.
TASI volume increased dramatically as more and more traders got nervous about the decline of stocks.
About 405.4 million shares worth SR8.7 billion were transacted. This turnover of SR8.7 billion reflects a 13.3 percent increase as compared to the previous day. The volume chart
was led by Dar Al-Arkan Real Estate with trades of over 42.2 million shares.
SABIC (Saudi Basic Industries Corp.) occupied the first position in term of value, reflecting a turnover of SR480.98 million.
Decliners outnumbered the advancers by a margin of 72 to 59 and the prices of 18 companies remained unchanged. Knowledge Economic City and Allianzsf made the biggest jumps of 9.7 percent amongst all Saudi equities. On the worst side, Jazan Development Co. came out as the biggest loser, down 2.3 percent.
United Electronic Company (eXtra) announced its audited yearly net profit of SR132 million, an increase of 34.7 percent as compared to the previous year; total sales reported at SR2.46 billion compared to SR1.77 billion, an increase of 38.5 percent. The driver behind this upturn was the continues growth of sales through eXtra branches and intensive promotions to increase the share of the company's sales in the market, in addition to the increasing of eXtra branches numbers from 17 to 24 during the year. The board of director recommended a cash dividend of SR2.50 per share for their shareholders equivalent to 25 percent of the company's paid-up capital.
The Saudi stock market (Tadawul) retreated to 6,802.94 on Sunday, which was roughly where it started the day. The Tadawul All-Share Index (TASI) lost about 28 points during the day but bounced up and down to close at 6,802.94 levels, just 1.09 points down. General perception of the investors remained negative and Saudi stocks declined a little from earlier levels.
The Telecom and IT sector was the top gainer in the market as the index closed at 1,902.15 points. Mobily shares up by 2.13 percent to close at SR60.00. Perhaps, the investors were encouraged after the announcement that Mobily had refinancing agreement of SR10 billion with seven local banks to refinance three of its existing long, medium and short term loans.
TASI volume increased dramatically as more and more traders got nervous about the decline of stocks.
About 405.4 million shares worth SR8.7 billion were transacted. This turnover of SR8.7 billion reflects a 13.3 percent increase as compared to the previous day. The volume chart
was led by Dar Al-Arkan Real Estate with trades of over 42.2 million shares.
SABIC (Saudi Basic Industries Corp.) occupied the first position in term of value, reflecting a turnover of SR480.98 million.
Decliners outnumbered the advancers by a margin of 72 to 59 and the prices of 18 companies remained unchanged. Knowledge Economic City and Allianzsf made the biggest jumps of 9.7 percent amongst all Saudi equities. On the worst side, Jazan Development Co. came out as the biggest loser, down 2.3 percent.
United Electronic Company (eXtra) announced its audited yearly net profit of SR132 million, an increase of 34.7 percent as compared to the previous year; total sales reported at SR2.46 billion compared to SR1.77 billion, an increase of 38.5 percent. The driver behind this upturn was the continues growth of sales through eXtra branches and intensive promotions to increase the share of the company's sales in the market, in addition to the increasing of eXtra branches numbers from 17 to 24 during the year. The board of director recommended a cash dividend of SR2.50 per share for their shareholders equivalent to 25 percent of the company's paid-up capital.
