TASI rises 83 points to 12,187 despite decline of Saudi Aramco stock

The Saudi benchmark stock index Tadawul All Share Index (TASI) recorded an increase of 83.62 points (0.69 percent), reaching 12,187.44 points at the end of Wednesday’s session, with a trading of SR8.9 billion ($2.37 billion).

The TASI registered the gains despite the energy sector’s decline of about 1.5 percent, affected by a drop in the stocks of Saudi Aramco, the oil giant. The Saudi Aramco stock, the heavyweight in the index, decreased by 1.60 percent, at SR27.75.

The volume of traded shares reached 404 million, with the stocks of 127 companies recorded an increase in their value, while 97 companies’ shares closed down.

Al-Rajhi Bank’s share, the second largest company in the index, jumped by 3 percent, reaching its highest levels since last February, at SR89.10. Al-Ahli (SNB) and Alinma shares also rose by about 3 and 2 percent, at SR36.85 and SR32.85 respectively.

The Red Sea stock is the largest gainer with a rise of 7 percent to SR37.70, followed by the Shams stock by about 6 percent at SR0.87. The shares of the Arabian Drilling Company and Petro Rabigh decreased by about 1 and 0.62 percent to 122.40 and SR8.01 respectively.

The Cenomi Retail stock continued to top the list of the most declining companies, for the second session in a row, by 3.4 percent, at SR10.20, followed by Abu Moati by 3 percent at 29.50 percent.

The Saudi Parallel Stock Index (Nomu) closed down 30.28 points, reaching 25,960.34 points, with trades worth SR36 million, and the number of traded shares accounted for two million shares.