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FinancialNews


  • 19-12-22

    Tadawul All Share Index closes Sunday’s session on lower note

    (MENAFN) The Tadawul All Share Index on Sunday ended slightly under previous session by 38.74 points — or 0.38 percent — to end standing at 10,251.68 points following reaching a high of 10,316.61 as of 10:44 AM Saudi time, riding on the doubt that has troubled financers sentiment in the last few months.

    The advance-decrease ratio reflected the sentiment, with 104 shares of the registered 220 heading north, while only 99 turning south. The overall exchange ratio reached SR2.86 billion (USD760 million), significantly decreased in comparison with Thursday’s SR6.7 billion (USD1.7 billion) or Wednesday’s SR5.2 billion (USD1.38 billion).

    “Today’s traded volumes have been very low; thus, I would not read much into the volatility. However, TASI and the global markets have had a bumpy ride in the past few months,” Pritish Devassy, chief of sell-side research of Riyadh-based GIB Capital, informed Arab News.

    “TASI has been mimicking oil prices very closely and more so on the days when oil has seen large moves. Brent has declined about 35 percent since mid-June compared to TASI, which has declined by around 20 percent in the same period,” according to Devassy.

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