TASI 4.4 mln Shares Traded, Closing Value at SR205 mln

Saudi stock exchange main index added 16.5 points, on Thursday, Nov 11, 2021, throughout the auction period, closing at 11,898.94 points, up from 11,882.46 points before the sale.

Al-Rajhi Takaful 1.7%, Al-Aseel 1.1%, Chubb 1%, Naseej and Al-Aqaria 0.9% had their shares rise, while the shares of 64 other firms fell, topped by Al-Fokhariya 1.3 percent, Gulf General 0.8%, Extra and Sage 0.7%. SADAFCO, Education REIT, and Paper each contributed 0.6%.

It’s worth noting that the closing auction is used to determine the market’s closing price, which is subsequently determined, using (the auction mechanism), considering the supply and demand forces, during the closing auction to decide the fair price, and finally the equilibrium price at the closing of the auction, which lasts 10 minutes.

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

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

Only 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 deal, the closing price shall be determined, using the price of the most recent deal, in continuous trading. The prior session’s closing price.

Market orders are displayed in the order book, as the best bidders’ best  bids, at the closing auction time, with no price during the auction set period.

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

Source: Tadawul, Maaal follow up unit