Tadawul All Share Index Augmented By 46.45 Points
Category: Information
-tadawul-all-share-index-augmented-by-4645-points-saudi

Buying period for ARAMCO IPO for retail investors and institutional byers is over. It is indicated by Samba Capital, the lead Manager of IPO was oversubscribed. The IPO has fetched approximately SR 47.4 billion (US$ 12.64 billion) from approximately 4.9 million retails subscribers who subscribed 1481 million shares.  It was estimated that Aramco raised US$ 25.6 billion in world biggest IPO surpassing record of Chinese firm Alibaba which collected US$ 25 Billion in 2014. Nevertheless if ARAMO exercise their option to issue additional 450 million shares to the investment banks, the final size may reach to US$ 29.4 billion. The trading of Aramco shares will start after completing the formalities.

Tadawul All Share Index fluctuated within the range of 116 points; however it augmented by 46.45 Points on WoW basis and ended at 7905.5. All other indicators were down, Volume and Numbers of trades were down by 19.48% and 2.26% respectively. Total value of trade dropped by 28.95% and decreased to SR 10.7 billion. Due to increase of prices the market capitalization increased by SR 5.44 billion reaching SR 1849.74 Billion.   Tadawul is going to make new record of Market Capitalization when ARAMCO share will start trading. Presently SABIC having 14.60% share of total market capitalization is the biggest company. We have to just wait and see what will happen when the biggest and gigantic company like ARAMCO will take its place in Stock Market.  Market Capitalization will soar to new height.  Other companies will look minuscule!

In Blue chips companies, Al-Rajhi Bank, Alinma Bank and STC have shown good performance which amplified by 1.61%, 1.23% and 1.29% and closed at SR 63.20, SR 23.08 and SR 94.40 respectively. However top gainer of the week was  Anaam Holdings which enlarged massively by 32.52% and closed SR 12.02.  Annam Holding has accumulated losses of 92.35% of total Capital. They are planning to apply for Capital reduction for that much amount.  Therefore their new capital will remain SR 15 million instead of SR 196 million. Alujain Corp having capital of SR 692 million;  announced  3 quarter results for 2019 according to which net profit of SR 154.04 million (1-9, 2018) has turned to a loss of SR 258.18 (1-9, 2019). EPS changed  from  +  SR 2.23 to loss of SR 3.73.  The main reason for loss is due to loss of revenue in their affiliate company Natpet (National Petrochemical Industrial Co) plant  which caught fire during last quarter of 2018. Cost was also high due to Zakat provision. However their price increased by 11.96% and closed at SR 23.96. TADCO was also in limelight in which 22 million shares were traded and its price improved by 21.96% and ended at SR 8.94.

SABIC turned to negative and plunged by 1.10% and ended at SR 90.00. However top loser of the week were BAAZEEM which dropped by 18.64% and ended at SR 43.20.   Raydan (Laham Mandi) is continuously falling. Last week it dropped by 9.57% and finished at SR 16.82. National Shipping and Dar Al-Arkan plummeted by 7.35% and 5.34% and closed at SR 31.50 and SR 10.98 correspondingly. In materials sector Sipchem  and Yansab tumbled by 2.56% and 1.20% and ended at SR 15.20 and SR 49.50 respectively.

Lot of positive activities was observed in Cement sector. Prices of all 14 Cement companies closed in positive zone! However the top gainers in Cement sectors were  Yanbu Cement and Qasim cement which advanced by 11.64% and 10.37% and closed at SR 38.35 and SR 62.80 respectively. Southern Province Cement was up by 10.14%, UACC amplified by 9.87%, Arabian Cement enlarged by 9.70%. Yamama cement up by 8.21%.

Sadafco declared 25%  interim dividend with book closing on 4.12.2019. Its price increased by 5.52% and settled at SR 130.00 at the end of week. Fitness Time announced to distribute 5% dividend with book closing on 8.12.2019. Its price however reduced by 0.28% and closed at SR 71.80

CMA has given approval to Al-Sharqiyah Development to increase the capital from SR 75 million to SR 120 million by issuing 4.5 million ordinary shares. Its value increased by 1.66% and closed at SR 40.25

CMA has imposed a fine  of SR 20,000 on National Building and Marketing Co as they did not publish their half yearly financial results  for 2019  within prescribed time period

The WTI price was up by 0.55% in international markets on W/W basis. The investors should consider oil prices, regional issues and further activities in Aramco shares and will take their positions accordingly.

 

SOURCE : ALBILAD

08 Dec, 2019 0 354
Posted Comments
FEEDBACK
@ 2024 www.arablocal.com All Rights Reserved
@ 2024 www.arablocal.com All Rights Reserved
Warning (2): Cannot modify header information - headers already sent by (output started at /home/kuwaitlocal/arablocal.com/public/webroot/index.php:2) [APP/webroot/index.php, line 171]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/kuwaitlocal/arablocal.com/public/webroot/index.php:2) [APP/webroot/index.php, line 172]