Weekly Stocks Review as on 15th February, 2023

Weekly closing turned to Positive.   TASI improved by 136.29 points and closed at 10548.45.   Investors gained SR 183 billion in form of Market capitalization. 

 

Market capitalization crossed SR 10 trillion.

 

By : Ghias Uddin, MBA                    

Weekly closing turned to positive.   TASI fluctuated within 225 points and closed at 10548.45 depicting improvement of 136.29 points on WoW basis.  Numbers of trades increased by 1.39% while volumes were down by 5.03%. Value of trade increased slightly by 1.42%% and summed to SR 19.10 billion .Due to increase of prices the Investors gained SR 183 billion in form of market capitalization. The market capitalization once again crossed SR 10 trillion and reached to SR 10.118 trillion.

Saudi Aramco turnover reduced slightly by 1.81% and totaled to SR 757 million. However, price increased by 2.01% On WoW basis and closed at SR 33.05. Number of trades and volume depressed by 5.22% and 4.26% respectively.  Due to increase of price the market capitalization of Aramco jumped up by SR 143 billion and totaled to SR 7271 billion (US$ 1.938 trillion).

Heavy Turnover.

Al-Rajhi Bank was the top pick of the week; In which shares worth SR 1.25 billion were traded. Its price dropped by 1.42% and ended at SR 76.20.  Americana Restaurants was placed in 2nd position in which shares worth SR 1.16 billion exchanged hands. However, its price plunged by 3.14% and closed at SR 3.70. There was good demand for MARAFIQ. Its price augmented by 11.72% and reached to SR 53.40 with turnover of SR 825 million. The price of SABIC AGRI dropped by 1.25% and ended at SR 126.40 with turnover of SR 811. Saudi Aramco was placed on 5th position by turnover (SR 757 million). Its price increased by 2.01% and settled at SR 33.05.

Top Gainers:

Al-Jouf Agricultural Development was the top gainer of the week. Its price augmented by 11.72% and closed at SR 53.40. MARAFIQ with 11.72% increase was the 2nd top gainer. Investors rushed to buy Al-Othaim Markets who declared 27.5% cash dividend with book closing on 16.2.23. Its price amplified by 11.68% on WoW basis and reached to SR 112.80. Newly listed companies like Riyadh Cables and LUBREF were also in limelight and their prices increased by 9.05% and 8.44% and closed at SR 47.00 and SR 106.60 respectively.

Top Losers:

Cenomi Retail has lost its attraction after becoming ex-dividend. It lost its value by 11.11% on WoW basis and was the top loser of the week. It closed at SR 16.00. MEDGULF insurance plunged by 10.49% and closed at SR 8.70.  

Tihama Advertising and Public Relations Co. (TAPRCO) depreciated by 7.11% and ended at SR 83.60. Senior Technical Analyst and trainer, Abdul Karim is very optimistic about TAPRCO. He suggests to hold he scrip which may reach to SR 383 in long run, if market remains positive. 

Burj Insurance and Al-Sagr Insurance depleted by 6.77% and 6.51% and closed at SR 17.90 and SR 15.80 respectively.

Dividend / Bonus / Right Shares / IPOs

STC Solutions declared 50% cash dividend ( SR 5.00 per share) which is the best announcement of the week. However, its price tumbled from SR 264.00 to SR 240.00 on the day of announcement. This seems to be act of manipulation. They will pick more shares after dropping further. Book closing date will be announced later.

Yamamah Cement and Saudi British Bank declared 10% and 7.4% dividends book closing dates not yet announced

Yansab declared 12.5% dividend. Shareholders meeting being called on 7.3.2023 for its approval.

Wall street dropped on Friday as investors worried about inflation and strong US economy could motivate Federal Reserve to increase Interest rate further.  Therefore, Investors in Tadawul should take care and invest their money carefully in dividend-yielding stocks. 

____________________________

Writer can be contacted thru:   email:  ghiasjeddah@hotmail.com

 

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