TASI closes 0.1% down at 11,827 points: Market Wrap

TASI closes 0.1% down at 11,827 points: Market Wrap
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Updated 16 November 2021
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TASI closes 0.1% down at 11,827 points: Market Wrap

TASI closes 0.1% down at 11,827 points: Market Wrap

RIYADH: The Saudi stock market ended the session on Tuesday, down 0.1 percent or 60 points, to close at 11,827 points.

Some 159.6 million shares changed hands in 292,000 deals, with heavy trading in Al Rajhi bank, recruitment firm Maharah,  and investment firm Taiba.

The market's fall today was influenced by a decline in materials stocks, which were down 3 percent, to record the sector's lowest closing in a month.

Shares in Saudi Aramco fell less than 1 percent to close at SR37.15 ($9.90).

Petrochemical sector stocks Tasnee, Saudi Kayan, Bahri, SIIG, Petro Rabigh, and real estate developer Dar Al Arkan all ended their trading today down ranging between 2 and 4 percent.

Shares in jewelry and luxury retail group Fitaihi led today's declines by more than 4 percent to close at SR44.75.

Shares in Taiba were up, closing the session at SAR 42.70, their highest level in more than four years, amid heavy trading of 8.6 million shares, the most seen since 2017.

Also, shares in Saudi National Bank rose by more than 1 percent to close at SR68.40.

Shares in plastics maker Zahrat Al Waha topped the gainers today at SR80.60, after the company announced a cash dividend of SR1.5 and a 50 percent capital hike.

Other News:

Theeb Rent a Car company's board has recommended a 4 percent cash dividend, or SR0.40 a share, for Q3 2021

Agri equipment firm Alkhorayef failed to disclose a material development related to bagging a contract, which will account for more than 5 percent of its revenue, before the start of the trading period on Sept. 12, 2021

The Capital Market Authority announced the approval of an increase in the value of assets in real estate fund Sedco Capital REIT.