Weekly Stocks Review as on 29th December, 2022
Week closed in Positive Zone. Index increased by 262.67 points and closed at 10478.46
Investors gained SR 307 billion in form of Market Capitalization.
By : Ghias Uddin, MBA
Last week TASI fluctuated within 312 points and at the end closed at 10478.46 depicting an increase of 262.67 points on WoW basis. This was 2nd consecutive week of weekly closing on positive note. Investor gained SR 307 billion in form of market capitalization.
Saudi Aramco performed very well as its trading value surged by 20.48% on WoW basis and its price increased by 3.25% and closed at SR 32.10. With improvement of price Market capitalization of Saudi Aramco increased by SR 220 billion and summed to SR 7062 billion (US$ 1.883 trillion).
Heavy Turnover:
Investors preferred to buy shares of newly listed companies. Therefore 1st and 2nd position by heavy turnover are held by Luberef and Al-Saif Gallery.
Luberef has taken debut in Tadawul on 28.12.2022 and in 2 days trading achieved highest turnover of the week (SR 1.503 billion). However due to depressing atmosphere in the market it price plummeted by 6.06% and settled at SR 93.00.
Al-Saif Gallery was offered at SR 115.00 thru IPO which has taken debut on 27.12.2022 and started going down from the first day. It traded only 3 days in the week but achieve 2nd position by turnover ( SR 1.148 billion) However its price depreciated by 21.30% and closed at SR 90.50
Al-Rajhi Bank with turnover of SR 966 million held 3rd position by turnover. It price increased by 2.73% an closed at SR 75.20. SABIC price enlarged by 5.42% and ended at SR 89.40 with turnover of SR 609 million. Saudi Aramco improved by 3.22% and settled at SR 2.10 with turnover of SR 600 million.
Top Gainers:
Tanmiah was top gainer of the week, whose price amplified by 15.09% and closed at SR 121.30. Al-Sagar Insurance escalated by 13.23% and settled at SR 14.04. Yanbu Cement Co. and Qassim Cement Co. improved by 10.53% and 9.11% and closed at SR 35.70 and SR 61.10 respectively.
Some other companies who contributed positively include Mouwasat who declared 100% Bonus shares subject to approval of CMA and shareholders, augmented by 8.29%, Arabian Cement escalated by 5.67%%, SABIC amplified by 5.42%, Yansab declared 12.5% dividend, improved by 4.66%, YSCC enriched by 4.45%, EPCCO Improved by 3.87%, SAIB affirmed 4.5% dividend , enlarged by 2.85%. STC enriched by 2.66%,
Top Losers:
Saif Gallery was the top loser of the week It was offered thru IPO at SR 115.00 It. has taken debut on 27.12.2022. within 3 days its price plummeted by 21.30% and closed at SR 90.50. SAICO plunged by 8.31% and ended at SR 11.92. Riyadh cables is continuously going down after coming on ready board. It has lost another 7.17% on WoW basis and closed at SR 36.25. SGS lost value by 7.06% on WoW basis and settled at SR 21.84.
Further companies who contributed negatively include TECO plunged by 5.88%, Arabian Shield dropped by 5.42%, DWF deteriorated by 4.94%, Sharqiyah Development tumbled by 4.70%, DUR Hospitality suffered by 4.56%, UACC declined by 3.36%, Raydan lost value by 3.24%,
Dividend / Bonus / Right Shares / IPOs
Last week 3 companies announced to distribute dividends. Yansab declared 12.5% dividend with no book closing date as yet. However, its price jumped by 4.66% on WoW basis and closed at 41.60. SAIB affirmed to distribute 4.5% dividend Its price increased by 2.65% and closed at SR 17.34. Sedico Capital Reit declared 1.8% dividend, its price increased by 0.39% and ended at SR 10.32.
On Thursday Dow Jones Industrial and Nasdaq composite improved by .1% and 2.06% respectively while S&P 500 rose by 1.8% as dip-buying fever in beaten down tech stocks, . Met Platform which is down by 64% Year to date (YTD) rallied by 4% while Apple increased by 3% as Apple plunged to its lowest level in 18 months attracted dip buyers. Small investors in TASI are hoping that big players in TASI may rescue the market by performing dip-buying of many shares which have gone down considerably since 1st January, 2022 like SABIC is down 22.93% YTD, Petro Rabigh down by 26.34% YTD. . Saudi Ceramic is down by 48.19% YTD, Halwani Brothers plunged by 51.27% YTD, Bin Dawood tumbled by 49.98% YTD, Chemanol down by 29.72% YTD, Tasnee is 38.08% down YTD, SARCO is down by 47.38% YTD, TAPRCO is 50.22% down YTD, DWF is 45.54% down YTD, TECO is 45.41% down YTD, Yansab is down by 38.45% YTD, Raydan is 51.62% down YTD, DUR Hospitality Co. down by 36.78% YTD, , Al Sagar Insurance down by 72.40% YTD, Shaker is down by 22.96% YTD, UCA is down by 78.79% YTD, Sharqiyah Development down by 47.67% YTD, Yamama Steel is 28.97% down YTD. STC down by 18.59% on YTD basis. All those are drastically down with many others have reached to attractive levels to buy. Big players should buy some strategic stocks of their choice and lift the market up as well as they can earn the profit for themselves.
Wish you all the readers a very Happy Prosperous New Year and wish that all who are suffering from bad market conditions may recover their losses in early part of new year of 2023. Good Luck.
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