TASI as many as 85 Shares Soar, 42 Fall

Saudi stock exchange index TASI increased by 23.5 points, during the post-session auction, on Wednesday, Jan 05, 2022, to end at 11453.08 points, up from 11429.61 points before the auction, as 6.3 million shares were sold, for a closing value of SR282.5, by 7,391 transactions.

Shares of 85 companies experienced increase, led by SABB by 1.2%, ACIG Rights by 1%, SABIC by 0.9%, AlAhli and MEPCO by 0.7%, while the shares of other 42 companies declined, during the auction period, led by TAKWEEN by 1%, Red Sea by 0.8%, EPCCO and OASIS by 0.5%.

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

The equilibrium price is determined during the closing auction, which lasts 10 minutes.

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

It is derived also, when orders are processed at 3:10 pm + a maximum of 30 seconds, on a daily basis.

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

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

Market orders listed in the order book as the best bidders’ best bids, during the closing auction and with no price 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