Saudi Arabia Financial Market Update
Tadawul falls slightly
Saudi Arabia's Tadawul All Share Index (Tasi) closed down 1.5% on its second day of trading, at 6,255.80. Saudi Kayan was the most active stock by value, but also registered the day's largest drop, going down 7.49% to SR17.90.
Saudi scores in business confidence over UAE
US-based research and polling firm Zogby International has released a survey of business confidence in the Gulf revealing that senior executives in the UAE are much less confident about their economic prospects than their counterparts in Saudi Arabia, Khaleej Times has reported. The findings were based on interviews with 126 chief executives and other senior managers in the UAE, Saudi Arabia and Qatar — during October 22 and 23. From 47 respondents in the UAE, 15% said their businesses were flourishing while 57% said their businesses were in decline, while among 67 Saudi respondents, 46% said they were prospering, and only 15% said they were in decline.
Saudi index rises again
Saudi Arabia's Tadawul index gained 0.95% to close on 6,343 today. The industrial investment category, up 1.94%, led all sectors. Overall, 72 stocks rose while 44 declined. Saudi Arabian Mining Company, Ma'aden, was one of the day's big gainers, up 4.47% to 18.65 riyals.
Tasi dips 1.39%
Saudi Arabia's Tadawul index slipped 1.39% today to close on 6,283, led by the petrochemical sector, which fell 2.23%. Sabic, the world's largest chemical firm by market value, had the day's biggest loss, down 3.94%. Overall, 20 stocks rose while 17 declined.
Saudi stocks rise again
Saudi Arabia's Tadawul index gained 0.93% today to close on 6,371, led by the insurance and petrochemicals sectors which rose 2.88% and 2.19% respectively. Anaam Holding was the day's big gainer, up 9.93%. Overall, 97 stocks gained while 24 declined.
Tasi sees slight gain
Saudi Arabia's Tadawul index climbed 0.71% today to close on 6,313. The hotel & tourism sector led the way, rising 1.35%. The day's big gainer was Al Baha Investment and Development, which rose 9.85% to end the day on 22.30 riyals. Overall, 70 stocks rose while 44 stocks fell.
Sama: Saudi credit growth stalls
The Saudi Arabian Monetary Agency (Sama) has said that credit growth in the kingdom almost came to a halt in September compared to August, as banks dealing with a debt crisis of family firms remained cautious, Reuters has reported. Bank credits were almost flat, reaching SR721.6bn in September after SR721.4bn in August, Sama said. Credit growth in August increased almost 2% compared to July.
Saudi stocks dip 1.4%
Saudi Arabia's Tadawul index fell 1.4% today to close on 6,441. All sectors finished lower, led by hotel & tourism which declined 2.33%. Kingdom Holding gained 1.96%, but it was one of just eight stocks that finished higher, compared to 121 that declined.
Tasi sees slight decline
Saudi Arabia's Tadawul index fell 0.47% to close on 6,532. The energy and utilities sector was the day's best performer, up 1.93%. Overall, 79 stocks declined while 40 ended higher.
Saudi stocks rise
Saudi Arabia's Tadawul index rose by 0.55% to 6,563, with all sectors moving upward, led by transport which rose 1.93%. Overall, 93 stocks finished higher, while 24 ended lower. Alinma Bank, the day's most heavily traded stock, gained 1.44% to close on 14.05 riyals.
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