Weekly Stocks Review as on 26th January, 2023
Week closed in positive zone. TASI up by 139.64 points and closed at 10821.65
Investors gained SR 180 billion in form of Market capitalization.
The Market Capitalization of Tadawul crossed SR 10 trillion and reached to SR 10,156 billion ( US$ 2.708 trillion) Trading Value declined by 7.03%%.
By : Ghias Uddin, MBA
Last week TASI fluctuated within 145 points and at the end closed at 108215.65 showing positive closing by 139.64 points on WoW basis. However, market performance remains sedative as most of the indictors were down. Numbers of trade and volumes were down by 8.06% and 10.20% respectively. Total trading valve declined by 7.03% and limited to SR 17.91 billion. Saudi Aramco played important role in increasing the market capitalization and thus the investors gained SR 180 billion in form of market capitalization. Market capitalization of Saudi Stock Market crossed SR 10 trillion and reached to SR 10,156 billion (US$ 2.708 trillion).
The performance of Saudi Aramco was much better than other stocks. Number of trades and volumes amplified by 25.96% and 62.88% respectively. Total trading value augmented by 65.94% on WoW basis and totaled to SR 921 million. The price of Aramco increased by 2.17% and ended at SR 32.90. Due to increase of price the market capitalization of Saudi Aramco improved by SR 154 billion and reached to SR 7238 billion (US $ 1.930 trillion).
Heavy Turnover:
Al-Rajhi Bank again was the leader as most active by value in which shares worth 1.333 billion exchanged hands during the week and its price increased by 4.18% and closed at SR 80.90. the 2nd highest turnover was achieved by Saudi Aramco i.e., SR 921 million and as indicated above its price increased by 2.17% and ended at SR 32.90. SABIC attained 3rd position by turnover SR 839 million and its price enlarged by 0.95% and concluded at SR 95.40. Luberef and SNB achieved the turnover of SR 664 million and SR 564 million and closed at SR 99.00 and 48.25 respectively.
Top Gainers:
Al-Hokair Group was the top gainer of the week as its price jumped by 20.04% and closed at SR 23.00. Investors of Red Sea profited by 14.87% as its price closed at SR 28.35. Alinma Tokio Insurance and Gulf General Insurance amplified by 12.96% and 11.29% and closed at SR 14.12 and 7.69% respectively. The price of Al-Kathiri augmented by 11.06% and ended at SR 51.20.
Top Losers:
Musharka REIT declared 2% cash dividend with book closing on 7.2.1023. It has negative effect on Investors as it price declined by 6.44% and ended at SR 8.14%. Musharka Reit was the top loser of the week. Al-Marai plunged by 5.36% and ended at SR 53.00. QACCO depleted b 4.90% and concluded at SR 69.00. Amiantit and ACWA Power deteriorated by 4.21% and 3.83% and closed at SR 42.10 and SR 155.60 respectively.
Dividend / Bonus / Right Shares / IPOs
Al-Drees Petroleum has good improvement in their profits. The EPS as of 31.12.2022 recorded at SR 3.25 per shares as compared to SR 2.36/ share as on 31.12.2021. They declared 20% dividend. Book closing will depend on AGM which will be announced later. Its price remained unchanged on WoW basis and closed at SR 79.50. Musharka Reit declared 2% dividend with book closing on 7.2.2023. Its price depleted by 6.44% on WoW basis and closed at SR 8.14. They were the top loser of the week. Mulki Gulf Real Estate declared 1.3% dividend with book closing on 31.1.2023, Payment within 15 days after closing. Al-Rajhi Bank declared 12.5% dividend. Eligibility as per AGM which will be announced later. SNB affirmed 6% dividend with book closing on 25.1.2023. Its price slightly increased by 0.92% on WoW basis and ended at SR 48.25.
DWF who declared 720% Right shares many months before; edge higher by 0.82% and closed at SR 171.40. Its price will further increase with announcement from CMA for approval of capital increase thru Right hares. Investors are waiting for approval for long time and are discouraged by delay in decision.
New Company Watania for industries will be coming soon by offering 24 million shares thru IPO. Further details are awaited.
Last Fridays and Thursday most of the USA and European markets closed on positive notes. It is expected that Tadawul will open positively on Sunday. But investors of Tadawul should take care. It is not recommended to make long term investments for the time being.
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