Market Movements Now | Kingdom (4280) Interested in Investing in TikTok; Multiple Cement Stocks See Volume Increase, Jouf (3091) Soars by 420%; 7 Stocks Hit 52-Week Highs
SAICO 8100.SA | 0.00 | |
KINGDOM 4280.SA | 0.00 | |
NAJRAN CEMENT 3002.SA | 0.00 | |
NORTHERN CEMENT 3004.SA | 0.00 | |
TCC 3090.SA | 0.00 |
The Tadawul All Shares Index(TASI.SA) attempted to extend its upward movement yesterday but faced resistance at the 12,440 level, which we had previously highlighted in earlier "Movement Now" columns. After reaching this resistance, the index retraced. Today, TASI has been trading in a narrow range around yesterday's closing level.
Notable News
SAICO Eliminates Accumulated Losses, Stock Surges 5%
As Sahm reported in today's morning summary, Saudi Arabian Cooperative Insurance Co.(8100.SA) (SAICO) announced the elimination of its accumulated losses, which were 13.03% of the capital, by using SAR 39.09M from its statutory reserve. As a result, the company’s accumulated losses now stand at 0% of its SAR 300M capital. The move had no impact on the company's financial obligations.
Kingdom Holding Expresses Interest in Investing in TikTok
Saudi Arabian Prince Alwaleed Bin Talal's Kingdom Holding Co.(4280.SA) (KHC) has expressed interest in investing in ByteDance’s TikTok, should Elon Musk or other parties pursue its acquisition, reported by Reuters. CEO Talal Ibrahim al-Maiman shared this interest in an interview with Al Arabiya TV on Wednesday. The potential acquisition follows U.S. President Donald Trump's recent comments supporting a deal with Musk, following a temporary 75-day suspension of a ban on TikTok in the U.S.
Kingdom Holding, which already holds stakes in Musk's X and his AI company xAI, is considering adding TikTok to its diverse investment portfolio. In addition to these remarks, al-Maiman mentioned that KHC's substantial shares in the Saudi airline flynas are nearing approval for a public listing on the Saudi stock exchange, pending the final review by the Saudi regulator, CMA.
Significant Volume Surge after 10:30 am
| Symbol | Volume Change% | 3M Average Volume | Today's Volume So Far |
|---|---|---|---|
| Najran Cement Co.(3002.SA) | 7.51% | 364,734 | 392,110 |
| Northern Region Cement Co.(3004.SA) | 98.77% | 263,699 | 524,149 |
| Tabuk Cement Co.(3090.SA) | 7.14% | 207,719 | 222,548 |
| Al Jouf Cement Co.(3091.SA) | 421.48% | 192,282 | 1,002,706 |
| Saudi Company for Hardware(4008.SA) | 71.42% | 115,501 | 197,997 |
| Saudi Arabian Cooperative Insurance Co.(8100.SA) | 263.41% | 138,408 | 502,991 |
| Sumou Real Estate Co.(4323.SA) | 2.06% | 395,307 | 403,461 |
New 52-Week High as of 10:36 am
| Company | Price (SAR) |
|---|---|
| Naseej International Trading Co.(1213.SA) | 109.40 |
| Umm Al-Qura Cement Co.(3005.SA) | 19.86 |
| Tabuk Cement Co.(3090.SA) | 13.74 |
| Al Jouf Cement Co.(3091.SA) | 12.58 |
| Arriyadh Development Co.(4150.SA) | 36.90 |
| Sumou Real Estate Co.(4323.SA) | 52.10 |
| CHUBB Arabia Cooperative Insurance Co.(8240.SA) | 55.90 |
Sector Performance as of 10:33 am
- Utilities: +1.71%
- Food & Beverages: +0.69%
- Commercial & Professional Services: +0.56%
Top Gainers as of 10:33 am
The top-performing stocks at this point include:
| Stock | Trading Price | % Change |
|---|---|---|
| Saudi Arabian Cooperative Insurance Co.(8100.SA) | 16.98 | +5.33% |
| Al Jouf Cement Co.(3091.SA) | 12.50 | +4.87% |
| Northern Region Cement Co.(3004.SA) | 9.70 | +4.30% |
| Saudi Automotive Services Co.(4050.SA) | 74.00 | +3.21% |
| Sumou Real Estate Co.(4323.SA) | 51.90 | +3.18% |
Top Losers as of 10:33 am
Today's top underperforming stocks are as follows:
| Stock | Trading Price | % Change |
|---|---|---|
| Astra Industrial Group(1212.SA) | 188.00 | -1.98% |
| Naseej International Trading Co.(1213.SA) | 107.00 | -1.11% |
| Basic Chemical Industries Co.(1210.SA) | 32.25 | -1.07% |
| Kingdom Holding Co.(4280.SA) | 9.42 | -1.05% |
| Etihad Etisalat Co.(7020.SA) | 57.80 | -1.03% |
- Reporting by Zaid, Sahm News team