The general index of the Saudi stock market "TASI", at the end of the trading session on Thursday, the end of the week’s sessions, decreased by 2.65%, losing 215.33 points to close at 7907.72 points, while the parallel market index rose 3.1%, gaining 485.61 points to close at 16158.77 points. And the trading volume reached 356.4 million shares worth 7.8 billion riyals. ...
21 sectors fell in the Saudi market, led by the long-term goods sector by 5.95%, followed by the capital goods sector by 5.54%, followed by the investment and financing sector by 4.64%, then the food production sector by 4.39%, then the public utilities sector by 4.37%, then the sector. Applications and technology services by 4.35%, then the media and entertainment sector by 4.29%, then the consumer services sector by 4.09%, then the insurance sector by 3.82%, then the luxury goods sector by 3.50%.
Eight shares jumped during today's trading session, on top of which was "Anaam Holding" by 9.93%, then "Bin Dawood" by 1.93%, then "Andalusia" by 1.03%, while 191 stocks declined, led by "Saudi Ceramics" by 10. %, Then "Al-Jazirah REIT" by 9.99%, then the "Metal" share by 9.97%, while Dar Al-Arkan topped the most active list by value and amounted to 277.3 million Saudi riyals.
In a related context, the Saudi Telecom Company (STC) announced that it obtained the highest credit rating by the SIMAH Rating Agency - Classification - (licensed by the Capital Market Authority) on October 28, represented by "AAA" in the long term and "T1" Short term.
This credit rating reflects the positive vision of SIMAH Rating Agency "Tasan" for the status of STC, represented by its strategic plans and operational capacity supported by high cash flows and growing revenues, in addition to the strength of its financial position and credit indicators to meet any financing requirements in the future.
In another context, the Saudi Electricity Company announced its preliminary consolidated financial results for the period ending on September 30, 2020, where the company achieved revenues of 48.6 billion Saudi riyals compared to 48.7 million Saudi riyals during the same period of the previous year, a decrease of 0.334%, and the company turned to a loss of 1.1 billion Saudi riyals, for profits of 2 billion Saudi riyals.