TASI 56 Shares Climbing against other Falling 71

As many as 4.5mln stocks traded at valuation of SR169mln

TASI index climbed 13.4 points, during the post-session auction, closing at 11,204.43 points, up from 11,191.02 points before the auction.

Shares of 56 companies increased, led by Misk 1.6%, MES and Sasco 1.1%, and MMPCO 1%, while the shares of 71 other companies declined during the auction, led by Al Mazraa 1.9%, Amiantit 1.7%, Al Kathiri 1.2%, Gulf Union, Union and Al Baha 0.7%.

It’s worth noting that the closing auction is used to determine the market’s closing price, using the auction mechanism, considering supply and demand forces, during the auction to determine the fair price, as the equilibrium, the price, then is reached, within 10 minutes.

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

The closing price is derived, on a daily basis,  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.

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

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