TASI as many as 71 Shares Surge, 52 Slip

Saudi stock exchange index TASI increased by 18.8 points, during the post-session auction, on Monday, Jan 03, 2022, to end trading, at 11,327.52 points, up from 11,308.75 points before the auction, as 4.1 million shares were sold, for a closing value of SR152.7, divided into as much as 6,382 deals.

Shares of 71 companies experienced increase, led by YANSAB 1%, Emaar EC 0.8%, ACIG by 0.7%, SIDC and RIYAD by 0.6%, while the shares of other 52 companies declined, during the auction, led by UCA 1.4%, RAYDAN by 0.7%, NADEC by 0.6%, and MEDGULF by 0.5%.

It is worth noting that the closing auction, used to determine the market’s closing price, which is determined using the auction mechanism, in turn, considering the supply and demand dynamics, during the closing auction to determine the fair price.

The equilibrium price is determined during the closing auction, which lasts 10 minutes.

Closing auction begins at 3:00 p.m. and finishes at 3:10 p.m., following the end of continuous trading.

It is derived also, when orders are processed at 3:10 pm + a maximum of 30 seconds, on a daily basis.

Regular deals are used to compute the closing price, with deal price for shares worth more than SR15,000.

In case, there isn’t a regular transaction, the closing price is determined by using the price of the most recent deal, in the continuous trading.

Market orders listed in the order book as the best bidders’ best bids, during the closing auction and with no price throughout the auction period.

The closing price trading session, which runs from 3:10 PM to 3:20 PM, is an extra session following the closing auction, in which only the closing price determined by the closing auction can be exchanged.

Source: Tadawul, Maaal follow up unit