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TASI gains 0.19% mid-session
The Saudi Stock Market Index "TASI" rose by 0.19% to reach 11,053.43 points during midday on Sunday, supported by gains in the shares of basic materials and retail companies. This followed SABIC's announcement that the Ministry of Energy approved the allocation of feedstock for the construction of a methanol plant with a capacity of 1.8 million tons annually, which led to a 1.13% increase in the company's stock. Petroleum refining stocks topped the gainers list with a 5.28% rise, while Taqa Cooperative's shares experienced a sharp decline of 33.09% after accounting for price fluctuation limits. The session saw a total trading value of 1.86 billion SAR from 105.7 million shares, with liquidity primarily concentrated on Dawa's shares, which accounted for 358.27 million SAR of trading. Additionally, several companies announced dividend distributions and the signing of memorandums of understanding, while stocks such as Petro Rabigh and Armah reached notable annual price levels.
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