54 Advancers vs 83 Decliners, 6.1mln shares traded worth SR189mln

The Saudi stock exchange main index TASI slipped 9.7 points, during the auction period on Sunday, Nov 28, 2021, and finished at 10,787.81 points, compared to 10,797.54 points before the auction, and 6.1 million shares were sold, at a closing price of SR188.5 million through 8724 deals.

The shares of 54 companies witnessed an increase, led by GESCO 2.2%, Al-Ahly Takaful 2.1%, Al-Maather REIT 1.8%, Maharah 1.5%, Tawuniya and Solutions, and Al-Hokair Group 1%, while the shares of as  many as 83 companies declined during the auction period, led by Seiko 2.3%, and Gulf Union Al-Lujain 1.6%, Fitaihi Group 1.5%, and Kayan 1.4%.

The closing auction is used to determine the market’s closing price, which is determined using the auction mechanism, factoring in the supply and demand during the closing auction period, to reach a fair price.

Subsequently, the equilibrium price is determined, thus,  during the closing auction, lasting 10minutes.

This closing auction begins at 3:00 p.m. and finishes at 3:10 p.m., following the end of continuous trading (market regular period).

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

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

If there isn’t a regular transaction, the closing price shall be determined, using the price of the most recent deal, in continuous trading, taking into account the prior day’s closing price.

Market orders are presented as the best bidders in the order book, during the closing auction, and no price shall be displayed during the auction.

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