Weekly Stocks Review as on 9th February, 2023

Negative trend continues in Tadawul.   TASI down by 289.663 points (2.71%) and closed at 10412.16. Investors lost SR 120 billion in form of Market capitalization. 

 

Trading value plummeted by 8.03% and down to SR 18.90 billion

 

 

By : Ghias Uddin, MBA                    

Negative trend continues in Tadawul.  TASI fluctuated within 291 points and closed at 10412.16 depicting loss of 289.63 points (2.71%) on WoW basis.  Most of the parameter closed in positive zone.  Numbers of trades and volumes increased by 2.51% % and 12.96 % respectively. Trading value plummeted by 8.03% and restricted to SR 18.90 billion. Nevertheless, due to reduction of prices the investors lost SR 120 billion in form of market capitalization.

Saudi Aramco turnover increased by 13.71% and totaled to SR 771 million. Number of trades and volume were amplified by 7.55% and 12.96% respectively.  The price dropped by 0.61% on WoW basis and ended at SR 32.40. Due to reduction of price the market capitalization of Aramco reduced by SR 44 billion and totaled to SR 7128 billion (US$ 1.900 trillion).

Heavy Turnover:

Heavy selling was witnessed in Alinma Bank thus its price reduced by 7.61% and closed at SR 29.15. It achieved the highest turnover of the week (SR 1.603 billion). Alinma Bank pushed Al-Rajhi bank to 2nd position by turnover whose turnover summed to SR 1.431 billion. Its price however, reduced by 3.98% and closed at SR 77.30. Good demand was realized in Americana Restaurants which attained the turnover of SR 964 million and its price augmented by 7.00% and ended at SR 3.82. Saudi Aramco accomplished the turnover of SR 771 million. Its price deteriorated by 0.61% on WoW basis and settled at SR 32.40 with turnover of 740 million. SABIC price increased by 0.98% and closed at SR 92.30 with turnover of SR 740 million.

Top Gainers:

Alamar was top gainer of the week, the price of which jumped by 7.69% and closed at SR 154.00.. The price of Gulf General Insurance augmented by 7.11% and ended at SR 8.59. The price of Americana Restaurants increased by 7% as indicated above and attained 3rd position by price gain. The prices of Burj Insurance and Riyadh Cables increased by 6.31% and 6.29% and closed at SR 9.20 and SR 43.10 respectively.

Top Losers

RIBL was the top loser of the week whose price deteriorated by 11.40% and ended at SR 26.80. SABB depleted by 9.40% and closed at SR 32.30. Bawan and TECO deteriorated by 8.83%  and 8.49% and finished at SR 29.95 and SR 15.30 respectively. Mouwasat came down to SR 186.60 and registered weakness of 8.26%.

 

Dividend / Bonus / Right Shares / IPOs

CMA has approved SNB application to increase Capital by 33.33% from 45 billion to SR 60 billion thru Bonus shares. It needs also approval from shareholders. AGM date will be announced soon. However its price deteriorated by  4.34% on WoW basis and closed at SR 48.40. It has potential to go to SR 58.00 just before ex-Bonus provided that the market remains positive.

The market is likely to remain bearish in next week. Therefore, investors should invest carefully. 

 

______________________________________________________

The writer can be reached by e/mail.  ghiasjeddah@hotmail.com

 

 

 

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