Mubasher TV
Contact Us Advertising   العربية

TASI down 1.57%; Aramco dominates record trade

TASI down 1.57%; Aramco dominates record trade
TASI ended the week at 8,005.77 points

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading session in decline, while liquidity surged to its highest level in more than three months, on the back of the newly listed Saudi Arabian Oil Company (Saudi Aramco).

The Tadawul All Share Index (TASI) lost 1.57%, or 127.95 points, and closed at 8,005.77 points.

Traded values surged to SAR 18.5 billion, of which Aramco dominated 86% or SAR 15.86 billion.

The total number of traded volumes amounted to 540.676 million shares, with Aramco accounting for 418 million shares of today’s total volumes.

Financial analyst Ali Al Zahrani believes that TASI now has its nearest support at 7,900 points, after breaking the 8,039-point level.

Aramco is set to be included in TASI starting next Wednesday and Al Zahrani believes they are no worrying signs for the weight of the oil giant’s stock on the benchmark index since it ranged between 4% and 5% today, referring to Al Rajhi and SABIC as the leading stocks before with the market needing some time to adapt to fluctuations.

Aramco rose by 4.55% or SAR 1.6, closing at SAR 36.8, leading the rising stocks and maintaining its position as the most traded share for its second trading day.

The stock of the largest listed company in the world is expected to be affected by crude oil prices and market news and updates, such as dividends, according to analyst Ali Al Rajhi.

Meanwhile, most market sectors closed in red, as basic materials and energy declined by 2.14% and 2.05% respectively, while banks fell 1.71%.

On the other hand, only three market sector indices closed in green, namely, healthcare, pharmaceuticals, and REITs, which added 0.54%, 0.19%, and 0.03%, respectively.

Anaam Holding led the declining stocks, sliding 5.99%, followed by Al Yamamah that retreated by 4.74%.