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The Saudi stock index rose at the close of 1.66%, offsetting most of the losses suffered yesterday (1.7%) amid concerns over the spread of a new strain of Corona virus in Britain, and the closure of airports in the region for a week in anticipation of this viral development.
The Saudi index rose 141.77 points to close at 8,680.45 points, with trades amounting to 10.8 billion riyals, while the number of shares traded reached over 345 million shares. , shared by more than 400,000 deals in which the shares of 194 companies saw an increase in value, while the shares of two companies closed lower. .
The shares of the companies: Al Hokair Group, Anaam Holding, Saudi Re-Saudi, Wafra and Baazim were the richest. As for the shares of my companies: Abdullah Al-Othaim Markets and SADAFCO, they were the weakest in terms of trading, with the rise and fall rates varying between 10.00% and 1.27%.
While the shares of the companies: Malath Insurance, Dar Al Arkan, Kayan Saudi Arabia, Saudi Re-Saudi and Zain Saudi Arabia were the most active in quantity, and the shares of: Refineries Companies, Anaam Holding, Bazim, Malath Insurance and Al Fukharia were the most active in value.
The parallel Saudi stock index (Nomu) also closed today, up 1034.00 points, to close at 21,698.23 points, with trades amounting to 43 million riyals, and the number of shares traded reached 410,000 shares shared by 1,073 transactions.
STC shares stabilized in Tuesday’s session, after the Saudi Competition Authority announced on Monday that the company would be fined 10 million riyals for “abuse of dominance.” Aramco shares rose 0.57% to 35 riyals per share.
In turn, the director of the Zad Center for Consulting, Hussein Al-Raqeeb, said in an interview with Al-Arabiya that the new strain that has emerged from the virus will affect very important sectors due to the shutdown, such as the sectors tourism, hospitality, Umrah services and travel services, hoping that with these closures, this suffering will continue. .
And the effects of the shutdown may be less in the second quarter of 2021, but according to the watchdog, it is certain that the first quarter of next year will be clear for the global economy.
The watchdog also expected the Saudi Central Bank “ SAMA ” to end the deferral of payments for small and medium-sized businesses by the end of the first quarter, and banks will face some sort of challenges in the second quarter of next year, affecting their profitability in the first half of 2021.
The Dubai financial index rose 0.81% to 2,480 points at the close, while the Abu Dhabi stock index closed the session, up 0.72% to 5,109 points.
At the Kuwait Stock Exchange, Amr Sarhan, vice president of investment portfolio management at the National Investments Company, suggested in an interview with Al Arabiya that the downturn in the Kuwaiti market on Tuesday was the natural result of the market interaction with negative news in global markets, in addition to the decision to close airports in Kuwait.
Sarhan believed that the stock market decline is normal and that there is some consolidation in some stocks, expecting “the new Corona strain not to negatively affect the markets in the future.”
The Kuwait Stock Exchange closed its transactions with a decline of 29.6 points in the general market index, reaching a level of R 5558 points, a decrease of 0.53%.
The MSM index (30) closed today at 3603 points, up 0.1 point, while the general index of Bahrain closed today at 1492.89 points, an increase of 0, 05 point compared to the previous closing rate.
Bahrain’s Islamic Index closed at 653.47 points, an increase of 3.76 points from its previous close rate.
In turn, Tariq Al-Rifai, CEO of the Corum Center for Strategic Studies, said in an interview with Al-Arabiya that commodity markets are more sensitive than stocks when it comes to the new strain of Corona.
Dozens of countries have banned air and train travel to the UK, due to the emergence of a new strain of the Corona virus, which is believed to be 70% more contagious.
In Arab countries, Saudi Arabia suspended various air and land travel for a week, while Kuwait suspended commercial flights and closed land and sea ports as a precaution.
The Sultanate of Oman has decided to prevent entry and exit from all ports for a week, while Tunisia has suspended flights from Britain, Australia and South Africa, while that Algeria has banned any evacuation of its citizens from Britain and Jordan has suspended flights from Britain for a period of two weeks.
Abu Dhabi-based Etihad Airways said it was requesting reservations valid until December 24, for all travelers arriving from the UK, in order to submit a medical examination result confirming they are not infected with the coronavirus, and that its validity extends up to seventy-two hours at most before their departure time. In turn, Sudan announced the closure of Khartoum airport for 15 days for flights from the Netherlands, Great Britain and South Africa.
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