Saudi Stock Market Update: Tadawul All Share Index Dips
In the latest trading session, Saudi Arabia’s Tadawul All Share Index experienced a dip, losing 193.02 points or 1.65 percent to close at 11,503.49. The total trading turnover of the benchmark index amounted to SR13.13 billion ($3.50 billion) with 65 stocks advancing and 161 retreating.
Market Performance Highlights
The MSCI Tadawul Index also saw a decline, dropping by 24.77 points or 1.70 percent to close at 1,436.07. On the other hand, the Kingdom’s parallel market, Nomu, showed an increase of 307.64 points or 1.17 percent, closing at 26,610.57, with 28 stocks advancing and 30 retreating.
Top Performers and Losers
Mediterranean and Gulf Insurance and Reinsurance Co. emerged as the best-performing stock of the day, with its share price surging by 7.66 percent to SR29.50. Almasane Alkobra Mining Co. and Alkhorayef Water and Power Technologies Co. also recorded significant gains, with their share prices soaring by 5.37 percent and 4.55 percent respectively.
On the flip side, ACWA Power Co. experienced a drop of 9.98 percent in its share price. Fawaz Abdulaziz Alhokair Co. and the Co. for Cooperative Insurance also faced declines in their share prices.
Parallel Market Performance
Mohammed Hadi Al-Rasheed and Partners Co. stood out as the best-performing stock on the parallel market, with its share price surging by 12.58 percent to SR34.90. Osool and Bakheet Investment Co. and Abdulaziz and Mansour Ibrahim Albabtin Co. also showed strong performance, with their share prices increasing significantly.