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Market Movements Now | Fitaihi (4180) Hits 52-Week High at SAR 4.7; Ma’aden (1211) Declines After Deal Termination
MAADEN -1.16%
SIIG +1.35%
WAFRAH -0.70%
ARDCO -0.84%
FITAIHI GROUP -0.68%
MAADEN 1211.SA | 59.45 | -1.16% |
SIIG 2250.SA | 13.49 | +1.35% |
WAFRAH 2100.SA | 22.54 | -0.70% |
ARDCO 4150.SA | 24.79 | -0.84% |
FITAIHI GROUP 4180.SA | 2.91 | -0.68% |
The Tadawul All Shares Index(TASI.SA) rebounded after testing the 200-day SMA last week, successfully closing above the key 12,100 level the following day. As of today's market open, the index is currently up slightly by 0.1%.
Notable News:
Ma’aden Terminates Agreement with Aluminium Bahrain B.S.C. (Alba) on Proposed Transaction
Saudi Arabian Mining Co.(1211.SA) (Ma’aden) announced the termination of discussions with Aluminium Bahrain B.S.C. (Alba) regarding a proposed transaction for Ma’aden’s subscription to new Alba shares in exchange for the entire issued share capital of Ma’aden Aluminium Company (MAC) and Ma’aden Bauxite and Alumina Company. The companies mutually agreed to terminate the non-binding heads of terms agreement, initially signed on September 16, 2024, with immediate effect as of January 13, 2025. No financial impact or costs have been reported due to the termination. Following the announcement, Ma’aden’s stock declined by 1.15% in early trading.
Saudi Arabia Launches SAR 10 Billion Industrial Incentives Program
Saudi Arabia's Ministry of Industry and Mineral Resources launched the SAR 10 billion Standard Incentives Program on Jan. 11, targeting key sectors including automotive, machinery, equipment, downstream chemicals, pharmaceuticals, food, medical equipment, military industries, housing, construction, and energy. The program offers up to SAR 50 million per project, covering up to 35% of initial investment costs. It aims to localize production, reduce imports, and support over 200 projects with SAR 50 billion in investments. Applications can be submitted via the ministry's Senaei platform.
Significant Volume Surge after 10:30 am
| Symbol | Volume Change (%) | 3M Average Volume | Today's Volume |
|---|---|---|---|
| Saudi Industrial Investment Group(2250.SA) | 36.65 | 1,089,517 | 1,488,843 |
| Wafrah for Industry and Development Co.(2100.SA) | 30.03 | 152,154 | 197,847 |
New 52-Week High as of 10:45 am
| Company | Price (SAR) |
|---|---|
| Arriyadh Development Co.(4150.SA) | 36.75 |
| Fitaihi Holding Group(4180.SA) | 4.70 |
Sector Performance as of 10:47 am
- Household & Personal Products: +0.97%
- Financial Services: +0.95%
- Food & Beverages: +0.49%
Top Gainers as of 10:47 am
The top-performing stocks at this point include:
| Symbol | Price (SAR) | % Change |
|---|---|---|
| United International Holding Co.(4083.SA) | 181.00 | +4.50% |
| Saudi Cable Co.(2110.SA) | 107.00 | +3.48% |
| Saudi Industrial Investment Group(2250.SA) | 17.54 | +3.18% |
| Saudi Reinsurance Co.(8200.SA) | 62.40 | +3.14% |
| Sadr Logistics Co(1832.SA) | 3.35 | +2.76% |
Top Losers as of 10:47 am
| Symbol | Price (SAR) | % Change |
|---|---|---|
| Fawaz Abdulaziz Alhokair Co.(4240.SA) | 14.98 | -3.10% |
| Jamjoom Pharmaceuticals Factory Co.(4015.SA) | 159.00 | -2.33% |
| Aldrees Petroleum and Transport Services Co.(4200.SA) | 127.40 | -2.00% |
| National Medical Care Co.(4005.SA) | 161.20 | -1.71% |
| Bawan Co.(1302.SA) | 59.60 | -1.65% |
- Reporting by Zaid, Sahm News team
