TASI drops after 5 days of gains, SAIB hits 2.5-year closing high: Closing bell


  • 12/22/2021
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RIYADH: The Kingdom"s main stock index TASI fell 0.5 percent to 11,204 points and the parallel market Nomu declined 2.75 percent to close at 26,409 points, despite five consecutive days of gains. AlRajhi Bank dropped 1.27 percent to SR140 ($37.29). The fall weighed on the index with the stock being the bourse’s highest traded in terms of value – with SR349 million of deals made during the session. Recording the second-highest value traded, SABIC declined to SR114, down 1.72 percent. Among the biggest market movers, Alinma Bank, Saudi Telecom Co., and Arabian Centres Co. declined around the range of 1 percent. Shares in the Saudi Investment Bank, or SAIB, led the gainers, rising 9.11 percent to its highest closing value in over two years, standing at SR19.16. The outperformance followed the board’s recommendation of a 33 percent capital hike and a dividend prospectus worth SR525 million for the ongoing fiscal year. Al Moammar Information Systems Co. and Banque Saudi Fransi followed SAIB in the top gainers, up 3.62 percent and 3.03 percent to SR143 and SR45.95, respectively.

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