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The general index of the Saudi stock market declined at the end of the session on Wednesday



The general index of the Saudi stock market "TASI", at the end of the trading session on Wednesday, decreased by 0.88%, losing 76.02 points to close at 8542.55 points, and the parallel market index - growth by 0.58%, losing 145.23 points to close at 24922.01 points, and the trading volume reached 230.9 One million shares worth 10.1 billion riyals.

 

19 sectors fell in the Saudi market, led by the commercial and professional services sector by 2.63%, followed by the investment and finance sector by 2.31%, followed by the capital goods sector by 2.16%, then the consumer services sector by 2.02%, then the transport sector by 1.92%, then the goods sectors. Long-term and insurance sector by 1.67%, then the food retail sector by 1.55%, then the food production sector by 1.50%, then the health care sector by 1.30%, then the media and entertainment sector by 1.02%, then the luxury retail sector by 0.98%, then the sector Banks by 0.85%, then the energy and basic materials sectors by 0.69%, then the telecommunications sector by 0.60%, while the sectors of applications, technology services and public utilities increased by 9.85% and 1.39%, respectively.

 

And 14 stocks jumped during today's trading session, led by "Arabian Sea" by 9.89%, then "MIC" by 9.83%, then "Andalusia" by 3.72%, while 177 stocks fell, led by "Red Sea" by a percentage 6.26%, then Solidarity Takaful shares by 4.67%, then Arab Cement shares by 4.65%, while Refineries share topped the most active list by value, reaching 1.6 billion Saudi riyals.

 

In a related context, Al-Rajhi Bank announced its financial results for the year 2020, and the net profit amounted to 10.6 billion riyals in 2020 compared to 10.2 billion riyals in 2019 with a growth rate of 4.301%, and the total assets amounted to 468.8 billion riyals compared to 384.1 billion riyals with a growth rate of 22.062%. Increase in total operating income by 6.3%, as a result of the increase in net income from special commissions, income from bank operations fees, income from foreign currency conversion, as well as income from other operations. In contrast, total operating expenses increased by 9.2%, mainly due to the increase in expenses Salaries and employee benefits, other general and administrative expenses and depreciation expense, in addition to an increase in the allowance for credit losses from 1,772 million riyals to 2,166 million riyals, a rate of 22.2%.

 

On the other hand, the Saudi Arabian Amiantit Company announced a decrease in its accumulated losses to 27% of its capital.

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