Saudi Gazette report
RIYADH — Saudi main stock index (Tadawul All Share Index or TASI) reduced its losses by the end of Tuesday’s session, recording an increase of 1.51 percent, reaching 11,679.16 points, with liquidity amounting to SR9 billion ($2.39 billion). This is after registering its lowest closing since mid-December at the end of Monday’s trading, amid the wave of decline that swept global markets.
The volume of traded shares reached 404 million, with 194 companies’ shares recording an increase in their value, while 35 companies’ shares closed down.
The shares of Saudi Aramco rose by 1.49 percent to SR27.20, after the company announced that it recorded a net profit of SR109 billion, exceeding analysts’ average expectations of SR106.6 billion ($28.39 billion). Saudi Aramco was the most active company by value, with trading of SR686.9 million.
In the banking sector, shares of Al-Awwal Bank and Al-Bilad Bank rose by 2 and 4 percent respectively, as both achieved growth in profits for the second quarter of this year.
Shares of Dar Al-Arkan Real Estate Development Company grew by 2.7 percent to SR13.56, after its profits increased by 12.7 percent in the second quarter of this year on an annual basis. Shares of the Saudi Research and Media Group rose by 1 percent to SR238, despite the company announcing a 55 percent decline in net profits for the second quarter of this year.
On the other hand, Americana and Savola Group were among the companies with the highest losses, recording 4.5 and 2.4 percent respectively. The Saudi Parallel Stock Index (Nomu) fell by 5.37 points, closing at 25,676.10 points, with trades worth SR38 million, and the volume of traded shares reached two million.