Day's Trending Saudi Stocks | Red Sea International Co.: The daily gain is 10.0%, subsidiary secures 1.52 billion riyal contract for major project in Saudi Arabia
RED SEA 4230.SA | 56.10 | -1.06% |
BATIC 4110.SA | 3.62 | -1.63% |
SAB 1060.SA | 31.90 | +0.47% |
SEERA 1810.SA | 22.72 | -0.53% |
GACO 6020.SA | 18.00 | -1.75% |
Editor's Note: the "Trending Saudi Stocks" column tracks the day's top bullish stocks in the KSA market, aiding investors in promptly identifying opportunities for potential gains.
At the close of 18/09/2024, the Tadawul All Shares Index rose by 0.3%, closing at 11920.94 points; the Parallel Market Capped Index dropped by 0.08%, closing at 25596.22 points. Sahm has compiled the Top 10 Daily Stock Price Gainers in the KSA market.
The Top 10 Daily Gainers in the KSA market are listed as follows:
Red Sea International Co.: The daily gain is 10.0%, subsidiary secures 1.52 billion riyal contract for major project in Saudi Arabia.
Red Sea International Co, a publicly traded entity on the Saudi Stock Exchange (Tadawul) since November 2006, operates in the Real Estate sector with a focus on Diversified Real Estate Activities. Headquartered in Jeddah, Saudi Arabia, the company was founded in January 1986. It trades under the ticker symbol "Red Sea" on the exchange.
In a noteworthy development, the possible reason for the stock price increase of Red Sea International Co.(4230.SA) may be attributed to the company's recent significant contract win. The subsidiary of Red Sea International secured a 1.52 billion Saudi Riyal construction contract with Modern Building Leaders Co., involving mechanical, electrical, and infrastructure works over a 19-month period. This major deal likely boosted investor confidence in the company's future revenue prospects. Additionally, the stock's impressive year-to-date performance, with a 123.6% increase, has created positive momentum. The company's position as the third-highest gainer in the Saudi market further attracted investor attention, contributing to the 10% daily price surge.
Batic Investments and Logistics Co.: The daily gain is 5.2%, Thrives on logistics growth and Saudi Arabia's economic rebound.
Batic Investments and Logistics Co, commonly referred to as Batic, is a publicly traded entity on the Saudi Stock Exchange (Tadawul) since 1993. The company, founded in 1984 and headquartered in Riyadh, Saudi Arabia, operates in the transportation sector with a focus on trucking services. Batic's shares are actively traded under its ticker symbol on the Tadawul exchange.
In a noteworthy development, the possible reason for the stock price increase of Batic Investments and Logistics Co.(4110.SA) may be attributed to several factors. The company's strong performance in the transportation and logistics sector, coupled with Saudi Arabia's economic recovery, has likely boosted investor confidence. The significant year-to-date increase of 71.2% suggests a broader market optimism and potentially improved financial results for Batic. Additionally, the growing e-commerce sector and government initiatives under Vision 2030 may have created new opportunities for logistics companies, further driving the stock's upward momentum.
Saudi Awwal Bank: The daily gain is 4.3%, appoints new member to its Audit Committee, strengthening financial oversight.
Saudi Awwal Bank (SAB) is a publicly traded financial institution listed on the Saudi Stock Exchange (Tadawul) since 1993. Headquartered in Riyadh, Saudi Arabia, SAB was founded in 1978. It operates as a diversified bank within the banking sector, offering a wide range of financial services. The bank's shares are actively traded on Tadawul under its ticker symbol.
In a noteworthy development, the possible reason for the stock price increase of Saudi Awwal Bank(1060.SA) may be the appointment of Dr. Maysa Abdullah Basoudan to the bank's Audit Committee. This strategic move, approved by the Saudi Central Bank, strengthens the committee's composition with Dr. Basoudan's expertise in accounting and fraud examination. The market likely viewed this as a positive step towards enhancing corporate governance and financial oversight. The updated four-member Audit Committee, featuring diverse expertise, may have bolstered investor confidence in the bank's commitment to robust financial management, potentially contributing to the 4.3% stock price increase.
Company Symbol | Capital (Billion Riyals) | Latest Gains | Change since the Beginning of the Year |
| Red Sea International Co.(4230.SA) | 1.6 | 10.0% | 123.6% |
| Batic Investments and Logistics Co.(4110.SA) | 2.18 | 5.2% | 71.2% |
| Saudi Awwal Bank(1060.SA) | 72.02 | 4.3% | -7.5% |
| Seera Group Holding(1810.SA) | 7.1 | 3.9% | -12.4% |
| Al Gassim Investment Holding Co.(6020.SA) | 0.55 | 3.5% | 2.7% |
| Ataa Educational Co.(4292.SA) | 3.35 | 3.4% | 10.7% |
| Halwani Bros. Co.(6001.SA) | 2.4 | 3.3% | 33.3% |
| Saudi Pharmaceutical Industries and Medical Appliances Corp.(2070.SA) | 4.05 | 3.2% | -10.2% |
| Saudi Arabian Amiantit Co.(2160.SA) | 1.38 | 3.0% | 57.9% |
| Saudi Company for Hardware(4008.SA) | 1.24 | 3.0% | -10.5% |
Editor's note: This content was generated by Sahm's in-house AI-enabled SaaS tool and was reviewed by our editing team.
