Market Movements Now | Alujain Corp. (2170) +9%, Proposes SAR 0.75 Quarterly Dividend for 2025-26; Aramco to Buy Primax for $3.5B; 3 Stocks Hit 52-Week Highs
SAUDI ARAMCO 2222.SA | 27.56 | +0.58% |
BAWAN 1302.SA | 45.24 | +0.18% |
MEPCO 1202.SA | 17.78 | +4.04% |
RIBL 1010.SA | 29.52 | +0.14% |
DAR ALARKAN 4300.SA | 18.02 | -0.72% |
On Sunday, the Saudi stock market experienced minor fluctuations. As of the latest update, the TASI index had dipped by 0.13%, while the NOMUC index saw a decline of 0.%.
Ibrahim Al-Hindi, an economic researcher at the Arab Markets Research Center, suggested that the level of uncertainty is very high, particularly concerning U.S. interest rates and economic data, as well as the impact of the tariffs set to be implemented in early April on Asian markets.
Meanwhile, Majid Al-Khalidi, the chief financial analyst at Al-Eqtisadiah newspaper, indicated that the market's stability above the 11,700-point mark could technically provide a foundation for some upward momentum in the long term.
Notable News
Aramco to Acquire Primax for $3.5 Billion
Saudi Arabian Oil Co.(2222.SA) has agreed to acquire fuel distributor Primax from Grupo Romero for approximately US$3.5 billion, according to the Peruvian newspaper Gestion. The deal includes Primax's operations in Peru, Colombia, and Ecuador, covering 2,185 gas stations. As of 11:36 am, Aramco shares increased by 0.39%.
Bawan Co. Halts Dividend Distribution for H2 2024
Bawan Co.(1302.SA) announced that its Board of Directors decided on 2025-03-20 not to distribute cash dividends for the second half of 2024. The company cited the need to support its financial position and achieve strategic and operational goals. Following the announcement, Bawan's stock price increased by 1.43%.
Supreme Court Overturns Ruling in MEPCO Case
Middle East Paper Co.(1202.SA) (MEPCO) announced that the Supreme Administrative Court has overturned a previous favorable ruling for its subsidiary in a case against the General Authority for Competition. The case has been referred back to the Administrative Court of Appeal in the Makkah Al-Mukarramah Region for a new judgment. MEPCO will receive the Supreme Administrative Court's ruling on April 16, 2025. As of 11:36 am, MEPCO shares fell by 0.52%.
New 52-Week High as of 11:41 am
| Company | Price (SAR) |
|---|---|
| Riyad Bank(1010.SA) | 30.70 |
| Dar Alarkan Real Estate Development Co.(4300.SA) | 20.08 |
| City Cement Co.(3003.SA) | 20.86 |
Significant Volume Surge after 11:43 am
| Symbol | Volume Change% | 3M Average Volume | Today's Volume So Far |
| Alujain Corp.(2170.SA) | 469.24 | 165,924.00 | 944,510 |
Alujain Corp.(2170.SA) 's board of directors has proposed a dividend policy for 2025 and 2026, which will be discussed in the upcoming general assembly. The policy includes distributing SAR 0.75 per share quarterly, starting from Q1 2025. The company noted that this policy is subject to change based on strategic shifts, increased investments, future projects, and commitments to financing entities.
Sector Performance as of 11:48 am
- Capital Goods +1.88%
- Utilities +1.04%
- Consumer Svc +0.69%
Gainers as of 11:53 am
| Company | Price | Change |
|---|---|---|
| Alujain Corp.(2170.SA) | 38.05 | 9.65 % |
| Al-Babtain Power and Telecommunication Co.(2320.SA) | 45.40 | 7.84 % |
| Arriyadh Development Co.(4150.SA) | 33.60 | 4.19 % |
| SICO Saudi REIT Fund(4337.SA) | 3.80 | 3.83 % |
Top Losers as of 11:53 am
| Company | Price | Change |
|---|---|---|
| Ades Holding Co.(2382.SA) | 16.26 | (2.63 %) |
| Al-Rajhi Company for Cooperative Insurance(8230.SA) | 139.00 | (2.52 %) |
| Gulf General Cooperative Insurance Co.(8260.SA) | 9.33 | (2.30 %) |
| Rasan Information Technology Co.(8313.SA) | 78.10 | (2.25 %) |