TASI records lowest volume of trading in a month, falling to 11,883 points

  • 10/20/2024
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Tadawul All Share Index (TASI), the Saudi main stock index, ended the first session of the week on Sunday down 24.5 points (0.2 percent), closing at 11,883 points. Total value of trading fell 36 percent to its lowest level in a month, reaching nearly SR4.5 billion. Total number of shares traded was 7 million. Small companies recorded the highest trading volume at SR 2.1 billion, while medium companies had the lowest trading volume at SR 742 million. The companies announcing their profits in Sunday"s session showed a discrepancy in their profits compared to analysts" expectations, and only the shares of Advanced Petrochemical Company reacted positively to the announced results, which rose 1.4 percent with the company achieving profits that exceeded expectations by 21 percent. This was driven by the company’s third-quarter earnings that beat average consensus estimate. Six sectors rose while the rest declined. The sectors of commercial and professional services led the rise by 1.3 percent, while public utilities topped the decliners by 1.5 percent, and banks achieved the highest trading volume at SR699 million. On the positive side, Saudi Aramco and Al-Rajhi Bank added almost 1 percent each to SR 27.05 and SR 28.70 respectively. Al-Baha was the biggest loser, sliding 7 percent to SR 0.25. ACWA Power shed 2 percent to SR444.20. SNB also finished 1 percent down at SR34.50. Saudi Fisheries fell by 4 percent to SR 25.70 as the company sustained SR 28.7 million in losses in Q3 2024. The Saudi Parallel Market Index (NOMU) ended the day by gaining 352.19 points to close at 26557.84 points, valued at SR88 million.

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