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Saudi National Bank, SABIC and Saudi Aramco see falls on the Tadawul: Market Wrap

RIYADH: The Saudi stock market ended the session on Wednesday down 0.6 percent, or 70 points, to close at 11,299 points.

Some 140 million shares changed hands in 277,000 deals, with heavy trading in Al Rajhi bank, Alinma Bank, SABIC.

The market’s fall today was influenced by a 1.4 percent decline in Saudi National Bank, while SABIC and Saudi Aramco decreased by 1 percent.

SABIC Agri-Nutrients closed at SR168.40 ($44), down 4 percent.

Developmental Works Food was the top decliner, falling 7.7 percent to SR181.40, amid heavy trading of nearly 1.3 million shares.

The stock has declined approximately 25 percent since its transition from Nomu to the main market.

On the other hand, Sipchem, Alinma Bank, Bank Albilad, Saudi Electricity and SRMG rose between 1 and 3 percent.

Red Sea International Co. shares also rose 5.3 percent, while the shares of Tihama Advertising and Saudi Industrial Export rose by 4 percent.

For the second consecutive day, Amana Insurance and Saudi Enaya were top gainers, closing at SR33.95 and SR30.35, respectively.

The parallel Nomu index was down 163 points, or 0.7 percent, closing at 23,164.54 points, after 348,000 trades.

Other News:

Falcom Financial Services Company announced the appointment of Albilad Investment Company as an independent custodian of Falcom Petrochemicals ETF

Etihad Telecom Company ‘Mobily’ announced the distribution of cash dividends to its shareholders for the fiscal year 2021, amounting to SR770 million, equivalent to SR0.85 per share, which is higher than the previous year’s dividend of SR0.5 per share.

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