TASI treads water; Almarai marks highest closing

Saudi Arabian stocks closed little changed on Wednesday in a choppy session. The benchmark Tadawul All Share Index (TASI) finished 0.1 percent higher at 6,947.

Trading turnover held steady at SAR 3.7 billion while the advances- declines ratio was 94/66.

Developer Dar Al-Arkan climbed nearly 4 percent to SAR 6.75, the highest close in around six months. Almarai jumped 1.8 per cent to SAR 76.75, marking its highest closing price since listing.

Other gainers included: Farm Superstores (+4 percent), Ash-Sharqiyah Development (+3.6 percent) and ACIG (+4.5 percent).

Yamamah Steel extended gains, adding 0.7 percent to SAR 28. The company has proposed a 10 percent dividend for first half of this year.

Al-Khodari, down 2 percent, came in for profit booking after rising to its maximum in the previous session. Fawwaz Al-Khodari, told CNBC Arabia Monday that the government owed his company SAR 400 million.

Meanwhile, blue chips, SABIC slipped to SAR 97.25 while Al Rajhi Bank edged lower to SAR 62.50.

Astra Industrial fell 1.6 percent to SAR 16.35 after the stock went ex-dividend.

Write to Brinda Darasha at brinda.d@argaamplus.com