All you need to know before Tadawul’s opening bell with TASI at 16-year high

RIYADH: Saudi main index TASI saw its third day of gains this week on Tuesday, despite a drop in oil prices on the back of peace talks between Russia and Ukraine.

TASI finished 0.28 percent higher, reaching a 16-year record high of 13,101 points, while the parallel market, Nomu, shed 0.43 percent to 25,026.

Shares in Al Masane Al Kobra Mining Co. soared 30 percent to SR81.9 ($22) as it made its trading debut on TASI, against an initial public offering price of SR63.

In line with the Saudi index, stock exchanges in Abu Dhabi, Dubai, and Bahrain advanced between 0.2 and 0.9 percent.

Qatar’s QSI and the Omani index MSX30 lost 0.5 and 0.9 percent, respectively, while the Kuwaiti index ended almost flat.

Elsewhere in the Middle East, Egypt’s stock exchange surged 1.4 percent.

In early Wednesday trading, Brent crude hovered near $110.96 a barrel, and US West Texas Intermediate traded at $104.96 as of 8:23 a.m. Saudi time.

Stock news

• PIF-backed Emaar the Economic City managed to narrow losses to SR827 million in 2021 even as revenues dropped 31 percent during the year
• Al-Dawaa Medical Services Co. recorded a 3 percent decline in net profit in its first annual results post listing on the Saudi exchange
• Amana Cooperative Insurance Co.’s losses before Zakat almost doubled to SR121 million in 2021
• BinDawood Holding Co. said it will distribute a half-year dividend of SR0.65 per share, despite seeing its profit drop 46 percent to SR240 million in 2021
• Saudi National Fertilizer Co.’s annual profit dipped 7 percent to SR16 million
• Allied Cooperative Insurance Group said it turned into a net loss before Zakat of SR104 million in 2021, following an announcement that accumulated losses reached 82.3 percent of capital
• Hospitality giant Abdulmohsen Alhokair Group managed to narrow losses by 14 percent to SR172 million in 2021 as revenues soared
• Riyadh Cement Co. recorded a slight decline in profits by 4 percent to SR211 million in 2021
• Saudi Red Sea International Co. trimmed losses by 17.6 percent to SR130 million in 2021
• Al-Babtain Power and Telecommunication Co. reported a 36 percent decline in annual profit to SR51.2 million
• TASI-listed Ash-Sharqiyah Development Co. narrowed losses by 89 percent to SR237,361 in 2021

Calendar

March 30, 2022

• Abdullah Alothaim Markets will start distributing cash dividends of SR2 per share for the second half of 2021
• Yanbu National Petrochemicals Co. will payout SR1.5 per share as dividends to shareholders for the second half of 2021

March 31, 2022

• Saudi Aramco will pay out a cash dividend of SR0.36 per share for the fourth quarter of 2021

 

All you need to know before Tadawul’s opening bell with TASI at 16-year high
Source: Viral Real Articles