As many as 73 TASI Shares Advance, 56 Decline

TASI, the Saudi stock main index climbed 19 points, during the post-session auction, closing at 11,261.28 points, up from 11,242.31 points, before the auction.

Shares of 73 companies witnessed an increase, led by Astra 1.9%, Petrochem 1.1%, Care 0.8%, International, and Jarir 0.7%, while the shares of other 56 companies declined, led by Baazeem 2.4%, Budget 1%, Al-Bilad 0.8%, and Takween Wasige 0.7%.

It’s worth noting that the closing auction is used to determine the market’s closing price. While, the equilibrium price is determined at  the closing of the auction, which lasts 10 minutes.

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

That price is derived when orders are processed at 3:10 pm + a maximum of 30 seconds, a process that conducted on a daily basis.

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

When there isn’t a regular transaction, the closing price is determined by using the price of the most recent deal, during the continuous trading of the previous day closing price.

Market orders are listed in the order book as the best bidders’ best bids, during the closing auction as there is no set price throughout the auction.

The closing price trading session runs from 3:10 PM to 3:20 PM, as 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