2023-08-20 14:32:31
Expert: The market index rebounded 300 points following losing 700 points in the last wave of decline
Dubai – Al Arabiya.net
Posted on: August 20, 2023: 05:25 PM GST Last updated: August 20, 2023: 06:32 PM GST
The Saudi stock market index closed trading today, Sunday, with collective gains, rising for the second consecutive session, and the index maintained the level of 11,500 points, with the end of correction operations.
The main market index, “TASI”, added 50 points, or 0.44%, to reach 11501 points.
At the end of today’s session, the market witnessed transactions worth 3.7 billion riyals through the circulation of 151.13 million shares.
A member of the Saudi Economic Association, Muhammad Al-Omran, said that the Saudi market is witnessing a kind of calm following the completion of the disclosure of the quarterly results of the companies, and the rearrangement of positions among the large portfolios.
Al-Omran added, in an interview with Al-Arabiya, that the market has compensated for its losses, which exceeded 700 points in the recent downturn, to rebound regarding 300 points so far.
He pointed out that the market tried to stabilize above the level of 11,500 points in today’s session, despite the fact that the overall results of the listed companies were disappointing due to the decline in the consolidated profits.
The shares of 105 companies recorded an increase in their value in today’s session, while the shares of 111 companies out of a total of 228 companies declined.
The list of the highest gainers was issued by (Paper Industry, Bahri, Takween, Bupa Arabia, Dallah Sanitary) with rates ranging from 7.08% to 4.4%.
While it topped the list of the most declining stocks (Developmental Food, Themar, Resources, Arabian Sea, Tanmia) with a rate that ranged between 9.89% and 4.55%.
“Al-Baha” stock topped the list of the most traded in terms of quantity by 17.2 million shares, while “Aramco” stock topped the trading volume by value, with 530.6 million riyals.
1692542377
#Saudi #stock #market #records #collective #gains #TASI #maintains #level #points