Cash flows to Saudi Arabia’s Aramco stock reached SAR 3.85bn after joining the MSCI Emerging Markets and FTSE Russell indices, of which SAR 2.5bn from MSCI and about SAR 1.35bn from FTSE Russell index compilers.
The trading on the state-owned energy giant’s shares saw about SAR 1.35bn last Thursday, over 38.1m shares, while FTSE Russell announced including the share on 23 December. Meanwhile, Aramco’s share closed at 3.3% decline of SAR 35.50.
According to the global index, Aramco’s weight within the MSCI Emerging Markets Index to be 0.16% of the MSCI Emerging Markets Index, and 6.03% of MSCI Index for the Saudi market, while its weigh in the FTSE Russell Emerging Markets Index will be 0.47%.
Aramco stock hit its highest level at SAR 38.7 in the second session of listing at a market value of $2.06trn at the time, but the stock closed at SAR 36.8 in the same session.
The stock market closed its trading on profits of 37 basis points, equivalent to 0.5%, reaching a trading value of about SAR 7.99bn, while Aramco accounted for 40% of it.
The total auction trade in the market amounted to about SAR 2.5bn over about 74.4m shares, of which SAR 1.35bn were made on Aramco shares, accounting for about 54% of the auction trade.
Noteworthy, Aramco offered 3bn shares (1.5%) for IPO during the period from 17 November to 4 December. The company also allocated 0.5% of the offering (1bn shares) for individuals, and 1% (2bn shares) for institutions.
The MSCI Emerging Markets Index is one of the most important global indexes and represents 10% of the market value of global markets. It is a modified index of the market value of free stocks available for trading, with specific foreign ownership, and covers 1,259 shares in 24 sectors and 26 countries.