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Atheeb shareholders gain SAR101m in late trade

Atheeb shareholders gain SAR101m in late trade
ATHEEB TELECOM
7040
52.23% 95.60 32.80
JARIR
4190
-3.29% 14.70 -0.50
SFICO
6050
16.38% 26.65 3.75
By Mohamed Abu Meleeh:
A number of stocks listed on the Saudi Stock Exchange (Tadawul) have seen active trading during the last thirty minutes of Thursday’s trading, including Etihad Atheeb after 3.3 million shares were traded, representing 45.4% of its traded volume that reached 7.1 million shares.
The buoyant trading pushed the index higher to shut at its maximum limit with a surge by 9.99%. In early trading, the stock rose 0.57% to SAR 6.95, but rose by 3:00 Makkah Time and then jumped to SAR 7.6 at close.
The stock’s rally on Thursday reversed an eight-session slide in which the stock lost 23% or SAR 2.08 per share, totaling SAR 327.6 million.
Thus, the stock recouped SAR 100.8 million from these losses, thanks to the active trading in the last thirty minutes.
Saudi Fisheries also saw active trading in the last thirty minutes, with 293.2 thousand shares exchanged, representing 48.25% of the stock’s total traded volume reaching 607.6 thousand shares. The stock rose 1.65%.
Jarir Marketing also saw 10.7 thousand shares traded, or 37.2% of its total traded volume of 28.8 thousand shares. The stock also rose 0.6%.
As the Saudi Stock Exchange (Tadawul) opened the week with the biggest point losses year-to-date, it closed Thursday’s session with the biggest point gains in one and a half month.
Thus, the market trimmed Sunday’s losses by 77% during the remaining sessions in the week.
The benchmark index TASI ended Thursday’s session 1.77% or 155.95 points higher at 8957.63 points; thus continuing its rally to the fourth successive day.
The market was buoyed by all sectors that moved higher, especially telecommunications that rebounded from a two-day slump.
132 companies headed north topped by Atheeb (+9.99%), followed by Saudi Zain (+9.56%). Atheeb snapped an eight-day losing run, while Saudi Zain reversed a three-session fall.
The index was driven mainly by Al Rajhi Bank (+1.71%), Samba (+1.35%) and SABIC (+3.58%). Mobily and STC also advanced 2.44% and 2.27% respectively.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters