Weekly Stocks Review as on 6th October, 2022
Oil prices go up due to OPEC+ decision to cut oil production by 2 mbpd
Stocks Weekly closing was positive, TASI up by 3.09%
Investors gain SR 144 billion in form of market capitalization.
By : Ghias Uddin, MBA
Oil prices go up due to OPEC+ decision to cut oil production by 2 mbpd in November 2022. WTI price increased by 12.76% while Brent enlarged by 9.63% on WoW basis. Gold price improved by 2.42% and was last seen at US$ 1700.50 / Oz.
Tadawul All share Index (TASI) fluctuated within 555 Points during the week and at the end closed at 11757.79 points; depicting an increase of 3.09%. Volumes amplified by 6.25% while number of trades and total trading were marginally down by 0.03%. and 0.87% respectively. Due to increase of prices the investors gained SR 144 billion in form of Market Capitalization which summed to SR 10,976 billion.
The price of Saudi Aramco fluctuated between SR 35.30 to SR 36.35 and ended at SR 36.00 portraying an increase of SR 0.42% on WoW basis. The trading value in Aramco declined by 29.21% while volumes and number of trades plunged by 6.25% and 35.04% respectively. However due to increase of price the market Capitalization of Aramco increased by SR 33 billion which totaled to SR 7920 billion (US$ 2.11 trillion)
Heavy Turnover:
Dar Al Arkan was on top by Turnover in which shares worth 1.42 billion were traded and its price increased by 6.29% and closed at SR 16.90. The turnover in Al-Rajhi Bank totaled to SR 1.38 billion and its price amplified by 3.57% and ended at SR 84.20. The demand in SABIC also increased as its turnover totaled to SR 1.36 billion and its price jumped up by 6.64% and finished at SR 94.70. Alinma Bank and Saudi National Bank were placed on 4th and 5th position by turnover as their turnover summed to SR 0.906 billion and SR 0.899 billion respectively. Their prices were also enlarged by 4% and 2.69% and closed at SR 37.70 and SR 64.80 respectively.
Top Gainers:
Naseej International was the top gainer of the week. The BOD of Naseej International decided to increase the Capital by 100% thru Right Shares. They appointed Wasatah Capital as financial advisor to handle the matter of Right shares. They still have to submit the Application to CMA for approval of increasing the Capital. Therefore, it is likely to take 7-9 months for issuance of Right Shares. However its price amplified by 15.22 and closed at SR 53.00. The price of Thob Al-Aseel improved by 14.34% and settled at SR 42.25.Saudi German Health augmented by 12.87% and closed at SR 30.70. Shaker and Gulf Insurance Group (GIG) enriched by 11.92 and 11% and closed at SR 21.40 and SR 26.95 correspondingly
Some other companies who contributed positively included SIEC escalated by 9.50% and closed at SR 41.50, Raydan twinkled by 9.99% and ended at SR 27.35, SPPC improved by 8.91% and settled at SR 24.35, Chemanol enriched by 6.92% and finished at SR 24.75. Sabic Agri enhanced by 5.49% and closed at 34.75. TECO improved by 3.58% and ended at SR 196.80
Top Losers:
Saudi Reinsurance was he top loser of the week; which declined by 3.47% and ended at SR 15.60. Ataa Educational Co tumbled by 2.83% and closed at SR 55.50. Derayah Reit declared 1.6% dividend with book closing on 16/10/2022 and payment on 13/11/2022. Shareholders preferred to sell the shares. Its price dropped by 2.18% and ended at SR 10.76. The value of ACWA Power fell by 1.55% and settled at SR 165.20.00. Qassim Cement who declared 5% dividend became ex-dividend therefore its price plunged by 1.55% and closed at SR 76.20. STC was down by 0.15% and closed at SR 39.30.
Dividend / Bonus / Right Shares / IPOs
Najran Cement announced 2.5% dividend with Book closing on 9/10/22 and distribution on 23/10/22. Its price increased by 7.30% on WoW Basis and closed at 12.06. We mentioned Derayah Reit in above paragraphs. SEDCO Capital Reit declared 1.8% dividend. Its price increased by 3.36% and closed at SR 11.06.
CMA approved application of Tihama (Tihama Adverting and Public Relations (TAPRCO) to increase capital by SR 350 million, which comes to 700% of present capital. Shareholders meeting still to be called on for approval of Right Shares. Its price however increased by 6.05% and closed at SR 105.20.
Extra CMA approved 33.3% Bonus shares. Book closing was 5/10/222. Its value Increased by 8.36% on WoW basis and settled at 99.40.
MEPCO. CMA also approved 33.3% Bonus shares. Shareholders meeting yet to be called for its approval. Its price closed at SR 54.50. In normal conditions if main Index remain positive its price can reach to SR 72.00
Anaam Holding: BOD approved to increase the capital by 50% thru Right shares. Its price increased by 2.30% and closed at SR 24.40. hey still to have get approval from CMA and shareholders.
Mostly all international markets are still performing negatively due to inflation data and increased tension between Russia and USA. The investors of Tadawul should take special care when buying new shares. Due to influence of international markets, Tadawul may open in red on Sunday, 9th October, 2022.
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