Foreign investors hiked stakes in 39 listed firms last Tuesday

Qualified foreign investors (QFIs) increased their stakes in 39 Tadawul-listed firms on Tuesday, May 29, while 45 companies saw foreign investors cutting stakes, market data compiled by Argaam showed.

Saudi Enaya Cooperative Insurance Co., Al-Babtain Power and Telecommunication Co. and Middle East Specialized Cable Co.’s (MESC) were the top companies seeing further purchases by foreign investors.

Foreign investors raised their shareholdings in Saudi Enaya by 0.08 percent, and in Al Babtain and MESC by 0.06 percent and 0.05 percent, respectively.

Top Five Stocks Where QFIs Increased Stakes
Company	Previous stake	Current stake	Variation	Number of shares
Saudi Enaya	15.79%	15.87%	+0.08%	16,000
Al-Babtain	0.63%	0.69%	+0.06%	25,579
MESC	1.21%	1.26%	+0.05%	30,000
eXtra	11.56%	11.61%	+0.05%	21,000
Alasmak	0.57%	0.61%	+0.04%	8,000

Meanwhile, United International Transportation Co. Ltd (Budget Saudi) and Al Ahlia for Cooperative insurance Co. saw the highest stock sales by foreign investors, with QFIs offloading 0.10 and 0.09 percent of their holdings, respectively.

Top Five Stocks Where QFIs Offloaded Stakes
Company	Previous stake	Current stake	Variation	Number of shares
Al Ahlia	19.67%	19.57%	(0.10%)	71,167
Budget Saudi	8.92%	8.83%	(0.09%)	28,800
AXA	27.77%	27.69%	(0.08%)	36,000
Saudi Re	2.21%	2.13%	(0.08%)	64,800
SIECO	1.62%	1.55%	(0.07%)	756

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