Qualified foreign investors (QFIs) increased their stakes in 70 Tadawul-listed firms on Wednesday, March 14, while 36 companies saw foreign investors cutting stakes, market data compiled by Argaam showed.

 

AXA Cooperative Insurance Co., United Electronics Co. (eXtra) and Malath Cooperative Insurance Co. were the top companies seeing further purchases by foreign investors. 

 

Foreign investors raised their shareholdings in AXA by 0.59 percent, and in eXtra and Malath by 0.53 percent and 0.26 percent, respectively.

 

Top Five Stocks Where QFIs Increased Stakes

Company

Previous stake

Current stake

Variation

Number of shares

AXA

24.00%

 24.59%

+0.59%

265,500

Extra

 7.53%

 8.06%

+0.53%

222,600

Malath

 20.03%

 20.29%

+0.26%

130,000

Al Rajhi

 5.02%

 5.17%

+0.15%

2,437,500

Al-Khodari

 1.53%

 1.63%

+0.10%

53,125

 

Meanwhile, Gulf Union Cooperative Insurance and Sahara Petrochemical Co. saw the highest stock sales by foreign investors, with QFIs offloading 0.82 and 0.40 percent of their holdings, respectively.

 

Top Five Stocks Where QFIs Offloaded Stakes

Company

Previous stake

Current stake

Variation

Number of shares

Gulf Union

 3.14%

 2.32%

(0.82%)

123,000

Sahara

 1.27%

 0.87%

(0.40%)

1,755,180

Tasnee

 1.05%

 0.83%

(0.22%)

1,471,611

Aldrees

 3.34%

 3.18%

(0.16%)

80,000

MEPCO

 1.60%

 1.46%

(0.14%)

70,000

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