The Saudi market … a correction phase after an annual jump of 35%

In an interview with Al Arabiya, the founder and CEO of Quancia Capital, Majed Kabbara, described what the Saudi stock market is going through as a correction phase after gains of more than 35% during the year. in course.

After heavy losses of 4.5% yesterday, it closed The leading Saudi stock index “TASI” today rose 0.21% to gain 22.81 points and close at 10810.60 points, with transactions for 6.7 billion riyals.

The volume of shares traded was 189 million shares, shared by more than 350 thousand operations, in where the shares of 112 companies recorded an increase in their value, while the shares of 80 companies closed.

Shares of SAICO, SABB Takaful, Amana Insurance, Enaya, and Malath Insurance recorded the highest gains, while shares of metal companies, Baazeem, Electrical Industries, GEPCO and SAPTCO, were the lowest in trade as rates of increase and decrease ranged between 9.95% and 6.24%.

While the shares of the companies Tasnee, Saudi Kayan, Alinma, Dar Al-Arkan and Petro Rabigh were the most active in terms of quantity, while the shares of the companies Al-Rajhi, SABIC, Alinma and Tasnee, Saudi Aramco, were the most active in value.

The Saudi Parallel Shares Index (Nomu) closed today, in down by 42.30 points, closing at 22,331.94 points, with transactions for 110 million riyals and the volume of shares traded reached over 2,600,000 shares shared by 5080 deals.

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