RIYADH: The Saudi stock market rebounded slightly from two consecutive days of losses as it saw a series of dividend announcements earlier today.
As of 10:17 a.m. Saudi time, the main index TASI went up by 0.5 percent to 11,217 points, while the parallel market Nomu rose 0.27 percent to 26,308 points.
The top gainer as of morning trading was Wafrah for Industry Co. which continued its gains momentum from the previous session, rising nearly 5 percent to SR153 ($40.7).
Shares of Saudi Arabian Amiantit surged by 4 percent after its board of directors resolved to use the fair value to re-evaluate real-estate and investment properties, which will result in a surplus of SR390 million effective April 1, 2022.
AlRajhi Bank, Sipchem, and Alinma Bank all saw gains in early trading, up almost 0.85 percent each to SR140, SR42.2, and SR23.9, respectively.
Following its decision to distribute dividends of SR45 million for the second half of 2021, Bawan Co.’s stock was among the top five gainers, up 2.5 percent to SR35.4.
Similarly, Saudi Automotive Services Co. rose to SR31.6 on the board’s dividend announcement earlier – planning to payout SR12 million for the third quarter of 2021.
Losses were trivial when compared to the session’s gains so far, with the top decliner, Mouwasat Medical Services Co., down 0.8 percent to SR173.