Saudi Stock Market Sees Mixed Performances on Sunday
The Tadawul All Share Index in Saudi Arabia kicked off the week with a slight gain of 15.87 points, closing at 12,518.22, marking a 0.13 percent increase.
Trading activity saw the benchmark index record a turnover of SR6.39 billion ($1.70 billion) with 147 stocks advancing and 76 declining.
In the parallel market, Nomu, there was a rise of 232.50 points, or 0.87 percent, closing at 26,940.18, with 35 stocks on the rise and 27 on the decline.
However, the MSCI Tadawul Index experienced a slight dip of 4 points, or 0.25 percent, closing at 1,571.11.
The standout performer on the main index was Ash-Sharqiyah Development Co., with its share price surging by 9.95 percent to reach SR21.44.
Other notable performers included Batic Investments and Logistics Co. and Saudi Ground Services Co.
On the flip side, Fawaz Abdulaziz Alhokair Co. was the worst performer, witnessing a decline of 5.16 percent in its share price to SR11.40.
Major Announcements in the Market
Saudi AZM for Communication and Information Technology Co. disclosed its board’s decision to move from the parallel market to the main market, appointing Al Rajhi Capital as a financial adviser for the transition.
The transfer is pending regulatory approval and compliance with market requirements, with any significant updates to be promptly communicated.
Additionally, Saudi Automotive Services Co. revealed a SR400 million project aimed at enhancing its locations over the next three years in line with fuel station and service center regulations.
The project, funded through internal resources and local bank credit facilities, is expected to boost sales and improve customer experience and competitiveness.