TASI 65 Shares Climb, other 60 Fall

Saudi stock exchange index TASI climbed 14.4 points during the auction, closing at 10,938.88 points, up from 10,924.51 points before the sale, on Thursday.

As many as of 65 shares  increased, led by BCI with 2.2%, and the feasibility of Rett Al-Harameen 1.7%, Taaleem REIT 1.3%, Enaya 1.2%, and loyalty 1.1%, while the shares of other 60 companies declined during the auction, led by Al Baha 1.8%, and Petrochem 0.8 %, BATC, Taqdmah, Ma’aden, and Eastern Cement 0.7%.

It’s worth noting that the closing auction is used to determine the market’s closing price, which in turn is decided by the auction mechanism, considering the supply and demand dynamics, at the auction closing, to determine the fair price.

Equilibrium price is determined during the closing auction, that 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 (in session, while 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.

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

In case, there isn’t a regular transaction, the closing price is determined using the price of the most recent deal, in the continuous trading or the prior session closing price.

Market orders are listed in the order book as the best bidders’ during the closing auction period, with no price throughout the auction.

The closing price trading concluded, at a separate post auction session whose its closing price, is only determined by the closing auction, that may be traded, and it runs from 3:10 to 3:20 p.m.

Source: Tadawul, Maaal follow up unit