Foreign investors hiked stakes in 40 listed firms last Thursday

Qualified foreign investors (QFIs) increased their stakes in 40 Tadawul-listed firms on Thursday, May 17, while 45 companies saw foreign investors cutting stakes, market data compiled by Argaam showed.

Alawwal Bank, Tihama Advertising and Public Relations Co. and Saudi Company for Hardware (SACO) were the top companies seeing further purchases by foreign investors.

Foreign investors raised their shareholdings in Alawwal by 0.40 percent, and in Tihama and SACO by 0.11 percent and 0.09 percent, respectively.

Top Five Stocks Where QFIs Increased Stakes
Company	Previous stake	Current stake	Variation	Number of shares
Alawwal	41.10%	41.50%	+0.40%	4,572,288
Tihama	1.60%	1.71%	+0.11%	8,250
SACO	10.62%	10.71%	+0.09%	21,600
Salama	9.42%	9.50%	+0.08%	20,000
Budget Saudi	19.43%	19.50%	+0.07%	49,817

Meanwhile, Buruj Cooperative Insurance Co. and Dar Al Arkan Real Estate Development Co. saw the highest stock sales by foreign investors, with QFIs offloading 0.27 and 0.23 percent of their holdings, respectively.

Top Five Stocks Where QFIs Offloaded Stakes
Company	Previous stake	Current stake	Variation	Number of shares
Buruj	1.56%	1.29%	(0.27%)	67,500
Dar Al-Arkan	4.01%	3.78%	(0.23%)	2,484,000
eXtra	11.19%	11.09%	(0.10%)	42,000
Saudi Enaya	15.96%	15.86%	(0.10%)	20,000
Wafa	13.11%	13.03%	(0.08%)	8,284

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