Home Business A leading stock occupies the role of the largest influencer on the...

A leading stock occupies the role of the largest influencer on the Saudi stock index. Know it

Saudi shares have closed in rally on Tuesday after three consecutive losing sessions, while the performance of other major Gulf equity markets was mixed.

Al-Rajhi Bank increased by 2.1%, while the Saudi Arabian Mining Company increased by 4.5%. Oil giant Saudi Aramco gained 1%.

In an interview with Al-Arabiya, financial market expert Abdullah Al-Rabadi described the performance of the Saudi stock market during today’s session as clearly reflecting the impact of the stock of Al-Rajhi Bank. which has become a significant weight, and its impact on the index has increased from 16% to 17%.

Al-Rabadi added that “there is no guiding quota comparable to the influence of the Al-Rajhi quota, in a way that is not matched by any other share, with the exception of the National Bank of Saudi Arabia, which does not constitute a weight in the impact except about 8% “, explaining that the rally in the market in the last two months has been supported by the performance of the Al-Rajhi Bank stock.

The main Saudi stock index closed today, in rise of 0.76%, earning 84.76 points and closing at 11256.52 points. With transactions amounting to 6.5 billion riyals.

The volume of shares traded was 184 million shares, shared by more than 320 thousand transactions, in which the shares of 167 companies recorded an increase in their value, while the shares of 35 companies closed.

Shares of companies Amiantit, FIPCO, Al-Othaim Markets, Bawan and Ma’aden recorded the highest gains, while shares of food development companies, Taiba, Metallic, SAP and chemical companies, the largest, with increases and decreases between 6.64% and 9.96%.

While the shares of Al-Enmaa, Dar Al-Arkan, Al-Nayifat, Saudi Electricity and Saudi Kayan were the most active in terms of quantity, while the shares of Al-Rajhi, Al-Enmaa, Al-Nayifat, SABIC, and Saudi electricity companies were the most active in terms of value.

The Saudi Parallel Shares Index (Nomu) closed today, in decline of 437.12 points, closing at 23282.72 points, with transactions for 28 million riyals, and the volume of shares traded was over 430 thousand shares, shared by 1059 operations.

On the Abu Dhabi Stock Exchange, the leading index grew by around 0.8%, with the Emirates Telecommunications Group (Etisalat) rising 2.8% and the share of the International Holding Company in 2% increase.

Dubai stock index fell 0.9%, in decline for a third consecutive day, with real estate and financials hardest hit.

Emaar Properties fell 2%, while Dubai Islamic Bank and Emirates NBD fell 1.9% and 1.8% respectively.

The Qatar index closed in drop of 0.1%. Masraf Al Rayan led the losses, as his stake fell 1.5%, while Industries Qatar’s stake increased 0.7%.

Outside the Gulf region, the Egyptian stock index rose 0.1%, with the shares of Talaat Moustafa Group and EFG-Hermes up 2.5% and 1.6% respectively.

But earnings were capped by a 0.6% drop in Commercial International Bank.

Read More About: Business News

NO COMMENTS

Leave a ReplyCancel reply

Exit mobile version