TASI records lowest close since April 2021, with a 0.6% fall to below 10,000 points

  • 2/27/2023
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RIYADH — Saudi Arabia’s benchmark Tadawul All Share Index (TASI) closed 0.6 percent or 57 points lower at 9,995 points on Monday, recording the lowest close since April 2021. The index declined for the seventh consecutive session, falling more than 600 points. Total turnover reached nearly SR 4.4 billion. With these transactions, the market index continues its decline for the seventh session in a row, as the share of the Tadawul Group led the declines by 7 percent at SR139.80 amid transactions amounting to about 1.2 million shares. The shares of Saudi Aramco and Al-Rajhi Bank declined to SR31 (one percent) and SR 69.90 (two percent) respectively. The shares of ACWA Power, Almarai, Bank Albilad, Saudi Investment Bank (SAIB), Banque Saudi Fransi, Arab National Bank, and Americana recorded a fall ranging between two percent and five percent. Tihama Advertising and Public Relations Co. was the top gainer of the day while the shares of SABIC Agri-Nutrients jumped three percent to SR 130.60 following the announcement of the financial results for the fourth quarter of 2022, which came higher than market expectations. The shares of Dar Al-Arkan, Tasnee, Riyad Bank, Advanced, Bank AlJazira, eXtra, and SIIG also recorded an increase, ranging between two percent and five percent. The market index had declined three hours after the opening of Monday’s session, below the level of 10,000 points, for the first time since the beginning of 2023, with transactions amounting to about SR2.3 billion, before it reduced its decline at the end of the session.

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