Arab News, Monday, Jan 03, 2022 | Jumada Al-Uola 28, 1443
Saudi bourse sees positive start to new year despite omicron surge: Closing bell
Saudi Arabia:
The Saudi stock exchange ended the first trading
day of 2022 higher, despite omicron fears that were fueled by a rise in cases on
regional and global levels.
Stocks on the main index TASI edged higher by 0.45
percent, reaching 11,332 points. On the parallel market, Nomu saw gains
amounting to 1.15 percent to close at 26,276 points.
Al-Moammar Information Systems, or MIS, registered
the highest gains, up 8 percent to SR163 ($43.4). This followed a notice from
Saudi Fransi Capital to activate phase one of their deal to build six data
centers at an initial value of SR1.2 billion.
Shares in Al Rajhi Bank and ACWA Power contributed
most to the increase in TASI. Together they saw over SR628 million worth of
shares traded intraday, having risen to SR143 and SR85, respectively.
With the latest gain, the utility provider, ACWA
Power, recorded an all-time closing high.
Petro Rabigh's stock rose over 1 percent to near
SR21. This came as the company received SR2.84 billion as early repayment of a
loan provided to Rabigh Arabian Water and Electricity Co., known as RAWEC.
Sadr Logistics was the biggest faller, by 10
percent to close at SR92.2, despite exiting the prior year 184 percent higher.
Shares in Allied Cooperative Insurance Group,
ACIG, fell to SR22.7. Earlier today, the group announced the start date for its
rights issue subscription as Jan. 3, amid a capital raise to SR291 million.