Latest news with #TASI
Reuters
a day ago
- Business
- Reuters
Dubai's stock index rises, logs second straight session of gains
June 3 (Reuters) - Most Gulf stock markets settled higher on Tuesday, with Dubai's main share index (.DFMGI), opens new tab marking a second consecutive session of gains and settling up 0.68%. "In Dubai, the market continued its upward trajectory, demonstrating healthy momentum and potential for further gains, with the financial sector significantly influencing performance, led by stocks such as Dubai Islamic Bank and Emirates NBD," said Milad Azar, market analyst at XTB MENA. "This performance is underpinned by strong fundamentals and a solid economic outlook for the year." In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished up 0.46%, snapping two consecutive session of losses. The financial sector led gains on the Abu Dhabi stock market with Abu Dhabi Islamic Bank ( opens new tab up 2.6% and First Abu Dhabi bank up 1.53%. Oil prices - a catalyst for markets in the Gulf - edged up on Tuesday, supported by a rise in geopolitical tensions and supply concerns. Brent crude futures was up 0.7%, at $65.08 a barrel by 1154 GMT. Ukraine and Russia ramped up the ongoing war this weekend with one of the biggest drone battles of their conflict, despite peace talks in Turkey. Iran, meanwhile, was poised to reject a U.S. proposal to end a decades-old nuclear dispute. If talks fail, Iran could face continued sanctions, limiting oil supply to the country. Saudi Arabia's benchmark stock index (.TASI), opens new tab settled 0.16% lower. United Carton Industries ( opens new tab was the top loser on the index, losing 3.98%. "Sector performance was mixed. These movements suggest uncertainty at current levels, as investors await further developments, particularly upcoming US economic data releases that could influence the Saudi market. Ongoing trade tensions also continue to impact investor sentiment," said Azar. Qatar's benchmark stock index (.QSI), opens new tab settled up 1.28%, helped by a 3.44% rise in Qatar Gas Transport ( opens new tab. The index logged its highest intraday gain since April 30. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab settled flat on Tuesday. U.S. President Donald Trump and Chinese leader Xi Jinping are set to speak this week, the White House said on Monday. This comes just days after Trump accused Beijing of violating an agreement to roll back tariffs and trade restrictions. The newly announced 50% tariffs on worldwide steel and aluminium are set to go into effect on Wednesday, June 4.
Al Etihad
3 days ago
- Business
- Al Etihad
UAE stock markets report steady gains in May despite global volatility
1 June 2025 19:12 A. SREENIVASA REDDY (ABU DHABI)The UAE equity markets closed May 2025 on a positive note, with both the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) recording gains, despite volatility in global markets, according to the monthly market report from Kamco combined market capitalisation of the two bourses rose as investors gained confidence from steady earnings, increased liquidity, and sector-specific momentum. The report highlights that both exchanges remained among the more resilient performers in the GCC during the month.'Equity markets in the GCC region remained volatile during May replicating the trend in the broader global financial markets. Almost all markets in the region witnessed gains during the month, but a 5.8% decline in the TASI (Saudi index) dragged the MSCI GCC index into the red with a decline of 2.6% during the month,' Kamco Invest ADX General Index registered a monthly gain of 1.6%. The index closed at 9,685.1 points in May, bringing its year-to-date performance for 2025 to 2.8%.According to Kamco Invest: 'Sectoral performance on the exchange was evenly split, with five out of 10 sector indices registering declines, while the remaining five recorded gains.'The overall gain in the FTSE ADX General Index was driven by advances in the Energy, Financial, Real Estate, and Utilities Indices. The Energy Index posted the steepest gain, climbing 4.4%, as two out of the four constituent companies recorded share price increases, led by a 7.7% rise in ADNOC Distribution's share price during the month. The Utilities Index followed closely with a gain of 3.8%, supported by a 3.8% share price increase in its sole constituent company, Abu Dhabi National Energy Co, during terms of monthly stock performance, Presight AI led the gainers' chart for May-2025 with a substantial 32.5% increase in its share price. It was followed by Phoenix Group and Sudatel, which recorded gains of 18.4% and 15.9%, respectively. On the decliners' side, Al Wathba National Insurance Company registered the sharpest fall, with a 24.8% drop in its share price during May, followed by Insurance House Co. and United Arab Bank, which posted declines of 13.1% and 10.7%, activity on the exchange was robust but subdued during May. Total volume of shares traded declined by 8.1%, reaching 6.9 billion shares, compared to 7.6 billion shares in April. Conversely, the total value of traded shares rose by 18.2%, amounting to Dh30.6 billion in May, up from Dh25.9 billion in the previous month. ADNOC Gas topped the most active stocks by volume with 1.4 billion shares traded, followed by Multiply Group and Phoenix Group, which recorded trading volumes of 1 billion shares and 499.5 million shares, respectively. In terms of value traded, ADNOC Gas also led with Dh4.6 billion worth of shares changing hands, followed by International Holdings Company and Al Dar Properties, with traded values of Dh 4.56 billion and Dh2.8 billion, DFM General Index recorded its second consecutive monthly gain in May, rising by 3.3% to close the month at 5,480.5 points. This increase brought the index's year-to-date performance for 2025 to 6.2%.Sectoral performance was entirely positive, with all eight sector indices posting gains during the month. The Materials Index posted the steepest gain at 9.1%, followed by the Industrial Index, which advanced 6.2%. The Financial Index improved by 4.4% in May, mainly supported by double-digit gains in several key companies within the sector, including Dubai Insurance Co (+24.8%) and Naeem Investment Holding (+14.8%). Meanwhile, the Real Estate Index — the largest weighted index among the DFM indices — registered a marginal uptick of 0.1% during the month. Slight share price increases in companies such as Tecom (+1.6%) and Emaar Properties (+0.4%) contributed to the overall marginal improvement of the Real Estate Index. The Utilities Index rose by 0.8% with a 1.9% increase in the share price of DEWA helped offset a 5.0% decline in Empower and a 1.1% drop in to Bloomberg's monthly stock performance data, Amlak Finance led the list of top gainers in May with a notable 30.2% surge in its share price. It was followed by Dubai Insurance and Naeem Investment, which recorded gains of 24.8% and 14.8%, respectively. Trading activity on the exchange was mixed in May. The total volume of shares traded declined by 3.6%, reaching 4.5 billion shares compared to 4.7 billion shares in April. In contrast, the total value of shares traded rose by 17.5% to Dh 15.1 billion in May against Dh12.8 billion in April. DEWA topped the monthly trading volume chart, with 994.1 million traded shares followed by Salik and Talabat at 465.7 million and 397.4 million shares, respectively. In terms of trading value, Emaar Properties led with Dh 3.1 billion worth of shares traded, followed by DEWA and Salik at Dh 2.7 billion and Dh 2.6 billion, respectively.
Argaam
28-05-2025
- Business
- Argaam
Individual investors start subscription to 10.25M shares of flynas on TASI today
flynas launches today, May 28, a retail offering for 10.25 million shares on the Main Market (TASI) at SAR 80 each, as determined by the book-building process. The shares allocated to individual subscribers represent 20% of total shares on offer. Last March, the Capital Market Authority (CMA) approved the company's application to list and offer 51.3 million shares on TASI, representing 30% of its post-IPO capital.
Argaam
27-05-2025
- Business
- Argaam
UCIC debuts on TASI today at SAR 50/share
United Carton Industries Co. (UCIC) starts trading on the Main Market (TASI) today, May 27, under the symbol 1323 and ISIN Code SA16AGP0KLH7, at a price of SAR 50 per share. The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply. For More IPOs UCIC is the sixth listing on TASI in 2025 after Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, Derayah Financial Co. on March 10, Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17 and Umm Al Qura for Development and Construction Co. (UQDC) on March 24. In 2024, 13 companies listed on Tadawul, in addition to Alistithmar AREIC Diversified REIT Fund. Following UCIC listing, the number of companies listed on TASI reached 235, along with 19 real estate traded funds. The company offered 12 million shares, or 30% of its capital, on TASI. It allocated 80% of the shares on offer to institutional investors, while the remaining 20% was set aside for retail investors. The retail IPO was 8.9x covered, with retail requests of nearly SAR 1.07 billion. Meanwhile, institutional IPO was 126x oversubscribed. A minimum of six shares was allocated to each investor, while the remaining shares will be allocated on pro rata, with an average allocation factor of 0.1072%. Company info UCIC is a closed joint-stock company in Saudi Arabia, established in 1988 in Jeddah. The company's capital is SAR 400 million, divided into 40 million shares at a par value of SAR 10 per share. Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln) Ownership (%) Number of Shares (mln) Ownership (%) Zamil Group Holding* 12.00 30.0 % 8.40 21.0 % Omar Kassem Alesayi & Co. 12.00 30.0 % 8.40 21.0 % Frimex Investment 12.00 30.0 % 8.40 21.0 % Zamil Group Investment Co. 2.00 5.0 % 1.40 3.5 % Eastern Industrial Investment** 2.00 5.0 % 1.40 3.5 % Public -- -- 12.00 30.0 % Total 40.00 100 % 40.00 100 % *Zamil Group Holding fully owns Zamil Group Investment Co.
Argaam
19-05-2025
- Business
- Argaam
Winners of Argaam Recognition Award 2024 revealed
In recognition of the professional excellence of investment fund managers and IPO lead managers in the Saudi stock market, Argaam continues to present the Argaam Recognition Award to outstanding financial institutions in light of the performance of their investment funds and investment banking in the Main Market (TASI) and the Nomu-Parallel Market. The 'Top-Performing Fund for 2024' Award was granted to Al Rajhi Capital Saudi Small and Mid-Cap Equity Fund. The award is granted to the top performing funds with net assets under management (AUMs) exceeding SAR 100 million (TIER-I). Osool & Bakheet Parallel Market Trading Equity Fund won the 'Top-Performing TIER2 Fund for 2024' Award for funds with AUMs below SAR 100 million. HSBC Saudi Arabia was awarded the " IPO Manager of The Year 2024" in the Main Market. Yaqeen Capital was named the 'Top IPO Manager of The Year 2024" in the Nomu-Parallel Market. Al Rajhi Capital was also named the 'Best Trading Platform and Best Brokerage Company for 2024'. Since its launch in 2017, the Argaam Recognition Award has received wide acclaim and considerable interest from the Saudi financial and business community. This year's edition builds on the success of the award's professional foundation.
