Monday, July 15, 2024

Saudi Stock Market Overview: Analyzing TASI’s Decline and NomuC’s Challenges


TASI loses 129 pts on Wednesday; NomuC sinks 1.4%

Wednesday’s trading session witnessed a notable downturn in the performance of the Saudi stock market, with the main market’s All Share Index (TASI) closing the day lower. By the session’s end, TASI had fallen by 128.72 points, a decline of 1.03%, to settle at 12,355.69 points.

The market saw a substantial volume of shares changing hands, with a total of 388.76 million shares traded. The value of these transactions amounted to SAR 8.45 billion, highlighting the day’s active trading atmosphere.

In terms of individual stock performance, Al Rajhi Takaful stood out as the day’s top performer, with a significant rise of 9.87%. On the flip side, Al Baha emerged as the session’s biggest laggard, dropping by 7.14%. This mixed performance among the listed companies portrays a diverse trading environment, underlining the varied investor reactions to market and corporate developments.

When it came to trading activity, TECO took the crown for the largest trading volume, reaching a remarkable total of 66.20 million shares. On the other hand, Atheeb Telecom led in terms of turnover, amassing a substantial SAR 384.40 million, showcasing the intense interest and liquidity in certain market segments.

Shifting focus to the Parallel Market Capped Index (NomuC), the day was also challenging, as it experienced a decline. The index fell by 365.84 points, or about 1.37%, finishing at 26,326.12 points. This drop underscores the broader market sentiment and the cautious approach of investors navigating through the trading session.

Among the companies listed on NomuC, Osool and Bakheet Investment Company soared as the top riser with an impressive gain of 12.05%. Conversely, Jahez International Company for Information System Technology recorded the most significant drop, falling by 5.88%. This variance in performance points to the distinct factors influencing the Parallel Market and its unique set of investors and listed entities.

The day’s market movements indicate a cautious yet dynamic trading environment in the Saudi stock market, with investors keenly watching for developments that could influence future sessions. As the market navigates through periods of volatility, the performance of key stocks and sectors will continue to be under close scrutiny.

Jordan Clark
Jordan Clark
Jordan Clark brings a dynamic and investigative approach to business reporting. Holding a degree in Business Administration and a certification in Data Analysis, Jordan has an eye for detail and a knack for uncovering the stories behind the numbers. His career began in the bustling world of Silicon Valley startups, giving him firsthand experience in tech entrepreneurship and venture capital. Jordan's reports often focus on technology's impact on business, startup culture, and emerging

Read more

Latest News