Weekly Stocks Review as on 19th January,, 2023
Weekly closing turned to negative. Index down by 62.21 points and close at 10682.01. Most of the indicators were down. Trading declined by 11.41%.
By : Ghias Uddin, MBA
In USA tight labor market indicates that Federal Reserve will maintain its aggressive polices to hike interest rates that will turn the economy into recession. Therefore, Stocks markets in USA are taking precautions and showed downward trend at the end to the week. The meeting of Central bank is expected next month to review the Interest rates.
It is expected that Tadawul will go in same direction as of US Markets, therefore Investors need to be cautious. Last week TASI fluctuated within 229 points and at the end closed at 10682.01 showing decline by 62.21 points on WoW basis. Most of the indictors were down. Numbers of trade and volumes were down by 11.18% and 12.91% respectively. Total trading vale declined by 12.91% and limited to SR 19.27 billion. Due to reduction of price the market capitalization reduced by SR 8 billion.
Trend in Saudi Aramco was also similar to total market. Numbers of trade was down by 12.05% while volumes reduced by 0.65%. Trading value however increased by 0.36% while price enlarged slightly by 0.16% and closed at SR 32.20. Due to slight increase of price its market capitalization improved by SR 11 billion and reached to SR 7084 billion (US $ 1.889 trillion).
Heavy Turnover:
Al-Rajhi Bank was the leader as most active by value in which shares worth 1.11 billion exchanged hands during the week but its price declined by 0.16% and closed at SR 77.70. The price of SNB deteriorated by 3.51% on WoW basis and ended at SR 48.05 with turnover of SR 956 million. The turnover of Sabic Agri Nutriment summed to SR 740 million. However, its value reduced by 0.86% and closed at SR 139.00. The price of Alinma increased by 0.31% and closed at SR 32.30 with Turnover SR 730 million. The value of TECO increased by 0.95% and ended at SR 16.92 with turnover SR 596 million.
Top Gainers:
TAPRCO was the top gainer of the week whose price increased by 22.84% and closed at SR 92.50. The value of Amiantit flourished by 8.25% and ended at SR 43.95. GACO placed in 3rd position by price increase, its price augmented by 7.73% and closed at SR 22.58. The prices of Dur Hospitality Co and Advanced Petrochemicals increased by 7,73% and 7.07% and closed at SR 22.58 and SR 46.60 respectively
Top Losers.
Tadawul Group was the top losers of the week. Its price deteriorated by 7.94% and ended at SR 167.00. National Shipping drowned by 7.50% and closed at SR 27.75. Dallah Health and SPCC plunged by 6.78% and 6.46% and ended at SR 132.80 and SR 50.70 respectively. In Banking sector SABB showed worst performance, which deteriorated by 5.53% and closed at SR 35.90.
Dividend / Bonus / Right Shares / IPOs
The following companies declared dividends during last 2 weeks. The announcement from SNB was the best who affirmed 6% cash and 33.99% Bonus shares. The eligibility of cash depends on shareholders meeting and Bonus shares needs approval from CMA and shareholders which will take nearly 7-8 weeks. MIS declared 12% dividend with book closing on 10.1.2023. SADAFCO affirmed 30% cash with book closing on 3.1.2023 and payment on 23.1.2023. Al Rajhi Bank declared 12.5% dividend with book closing on 15.1.2023. National Glass declared 5% cash with book closing on 1.2.2023. Arabian Centers declared 7.5% dividend with book closing on 22.1.2023 and payment on 12.2.2023. Fitaihi and Bank Al-Bilad declared 4% and 5% cash dividends respectively.
CMA has approved IPO for Wataniya for Industries who will offer 24 million shares to Public. Further details will be announced soon.
US stocks are still under pressure as Investors expect further increase of interest rates due to tight labor market data. Therefore, the investors of TASI should also take care while making medium term investments. New investment for long terms not recommended at this stage.
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