The Chairman of the Gulf Center for Financial Consulting, Mohammad Al-Omran, in an interview with “Al-arabiya”, expected that the trading session of the Saudi Stock Exchange (Tadawul), on Tuesday, to witness trades exceed SAR25bn.
Al-Omran said that these record trades come with the second phase of promoting the Saudi Stock Exchange on the MSCI Emerging Markets Index, to take place in Tuesday’s session, where nearly SAR23bn of inactive foreign investment flows will enter at the end of the session to the Saudi Stock Exchange.
Al-Omran added that the inactive investors will increase the outcomes of the market investments from the current amount of SAR91bn to more than SAR110bn, while the most prominent question remains, “How will active investors react in Tuesday’s session, which will witness the promotion?”
Al-Omran believed that today’s session will mark the end of the biggest catalysts in the rise of the Saudi stock index over the past two years, represented by the market promotion on emerging market indicators.
“The Saudi Stock Exchange, under the two-year promotion, will be heavily influenced by the MSCI and FTSE Russell Emerging Markets valuation reports and stock price valuations of companies involved in these international indices,” Al-Omran explained.
Monday’s trading session
The main Saudi index closed on Monday up by16.19 points to close at 8257.86 points, and trades worth more than SAR3.4bn.
The number of shares traded reached more than 125mn shares shared by more than 126,000 transactions, in which shares of 109 companies rose in value, while shares of 63 companies closed down.
Zain KSA, Thimar, Arab Insurance, Dur, and Sera were the top gainers, while Al-Tawuniya, Al-Bilad, Dallah Health company, SAP, and Jarir were the lowest in trading, with up and down ratios ranging from 5.19% to 2.19%.
Shares of Alinma, Zain KSA, Al Rajhi, Dar Al-Arkan, and Tasnee companies were the most active in terms of volume, while shares of Al-Rajhi, SABIC, Alinma, Al-Ahli, and Telecom companies were the most active in value.
Saudi Arabia’s benchmark index (Nomu) closed on Monday up by 82.53 points to close at 3825.53 points, with trades of more than SAR700,000, and the number of shares traded reached more than 33,000 shared by 73 transactions.