TASI falls 55 points amid pressure from most stocks

Saudi Gazette report

RIYADH — Saudi Arabia’s main stock index, Tadawul All Share Index (TASI), fell 55 points (0.5 percent), closing at 11,902 points on Wednesday. Total turnover reached nearly SR 4.7 billion.

Most stocks recorded a fall, with Al-Rajhi Bank, ACWA Power and Alinma stocks exerting the greatest pressure on the general index. Albilad stock rose 0.3 percent to reach SR35.90 after the bank showed growth in the third quarter of 14 percent, but it came slightly above average expectations.

BSF stock declined 1 percent to reach SR31, with the bank’s profits falling 8 percent to come below expectations, so the stock remains under selling pressure. Trading values reached SR1.2 billion, most of which went to small companies, while the least trading was in medium-sized companies.

Al Rajhi Bank lost nearly 1 percent to close atSR 85. Shares of Bupa Arabia, SADAFCO, Tawuniya, Farm Superstores, Riyadh Cement, Astra, Sadr, and Eastern Pipes ended the trading on Wednesday with declines between 2 percent and 5 percent. Meanwhile, Maaden and MEPCO shares jumped nearly 2 percent to SR 54 and SR 40.15 respectively