4.9 mln Shares Traded for SR228 mln, Closing Price

Saudi stock exchange index climbed 13.9 points during the auction period, closing at 11,752.12 points, up from 11,738.21 points before the sale.

During the auction period, shares in 47 companies rose, led by Arab Cement 2.6%, Fitness Time 0.9%, Metals and Malath and Al-Arabi 0.7%, while shares in 75 other companies fell, led by Care 1.2%, Gulf 1.1%, Gas and Allianz 1%, and Southern Cement and Saudi Cement 0.7.

It’s worth noting that the closing auction is used to determine the market’s closing price, and the closing price is determined using the (auction mechanism) that considers supply and demand during the closing auction period to arrive at the fair price, and the equilibrium price is determined during the closing auction, which lasts 10 minutes.

The closing auction begins at 3:00 pm and ends at 3:10 pm, following the end of continuous trading (session-the market is open).

On a daily basis, the closing price is derived when orders are processed at 3:10 pm + a maximum of 30 seconds.

Only regular deals are used to compute the closing price, which is the deal price for shares worth more than SR15,000. When there isn’t a regular deal, the closing price is based on the price of the most recent deal in continuous trading. The prior day’s closing price.

Market orders are listed in the order book as Best Bid/Best Bid during the closing auction period and with no price during the auction period.

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

Source: Tadawul, Maaal