Market Movements Now | MEDGULF (8030) Climbs Higher on Positive News; Multiple Saudi Stocks See Surge in Trading Volume
MEDGULF 8030.SA | 23.52 | +4.16% |
SVCP 2360.SA | 38.10 | -2.06% |
APC 2200.SA | 117.20 | +1.03% |
AMLAK 1182.SA | 12.40 | +1.14% |
SHL 1183.SA | 18.08 | -0.66% |
The Tadawul All Shares Index(TASI.SA) experienced a pullback yesterday after attempting to test the EMA20 and EMA50 moving averages but failed to break through. It subsequently found support around the 11,840 level.
As of today, the index is showing a modest recovery, trading slightly higher. However, if it fails to hold above this support level, there is a possibility of retesting the lower range between 11,770 and 11,840. The market sentiment remains cautious, with key support and resistance levels closely monitored by traders.
Notable News:
MEDGULF Signs Health Insurance Contract with SEC Worth 40% of 2023 Revenues
The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) announced on December 22, 2024, it signed a one-year contract with Saudi Electricity Company (SEC) to provide health insurance for SEC employees and dependents, starting January 1, 2025. The contract value exceeds 40% of MEDGULF's 2023 revenues, expected to boost 2025 profits.
Significant Volume Surge after 10:30 am
| Symbol | Price | Volume Change % | 3M Average Volume | Today's Volume |
|---|---|---|---|---|
| Saudi Vitrified Clay Pipes Co.(2360.SA) | 38.25 | 106.58 | 74,423 | 153,744 |
| Arabian Pipes Co.(2200.SA) | 116.20 | 4.88 | 91,338 | 95,791 |
| Amlak International Finance Co.(1182.SA) | 12.60 | 0.47 | 185,377 | 186,241 |
| SHL Finance Co.(1183.SA) | 19.34 | 277.57 | 102,896 | 388,501 |
| The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) | 23.14 | 31.16 | 905,508 | 1,187,647 |
| Knowledge Economic City(4310.SA) | 14.46 | 32.73 | 416,156 | 552,382 |
New 52-Week High as of 10:40 am
| Company | Price (SAR) |
|---|---|
| SHL Finance Co.(1183.SA) | 19.60 |
| Intelligent Oud Company for Trading(9579.SA) | 56.00 |
| Mohammed Hadi Al Rasheed and Partners Co.(9601.SA) | 99.90 |
Trending Ideas of the Day:
1. Raydan Food Co.(6012.SA), Heat Score: 16.91K
2. Arabian Centres Co.(4321.SA), Heat Score: 9.89K
3. United Electronics Co.(4003.SA), Heat Score: 8.45K
Introduction: This hot symbol list (you can find full list within Sahm App) reflects the recent surge in stocks' popularity based on the popularity algorithm of Sahm App.
The heat score primarily user action data such as user searches, and stock detail page views within the App, combined with the news sentiment related to the underlying stocks, representing a short-term trend in emotion and attention.
Data update: The hot symbols are updated every hour, reflecting the surge in popularity in the previous 24 hours.
Sector Performance as of 10:53 am
- Capital Goods: +0.92%
- Banks: +0.72%
- Financial Services: +0.58%
Top Gainers as of 10:53 am
The top-performing stocks at this point include:
- Red Sea International Co.(4230.SA) (Red Sea): +7.59%, trading at SAR 58.10
- SHL Finance Co.(1183.SA) (SHL): +4.51%, trading at SAR 19.02
- The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) (MEDGULF): +3.37%, trading at SAR 23.34
- Dar Alarkan Real Estate Development Co.(4300.SA) (Dar Alarkan): +2.69%, trading at SAR 14.50
- Riyadh Cables Group Co.(4142.SA) (Riyadh Cables): +2.49%, trading at SAR 140.20
- Reporting by Zaid, Sahm News team
