Saudi Stock Market Sees Second Consecutive Day of Decline
The Tadawul All Share Index in Saudi Arabia continued its downward trend, dropping 78.35 points to close at 11,775.47 for the second day in a row.
Market Turnover and Performance
The total trading turnover reached SR11.49 billion ($3.06 billion), with 143 stocks advancing and 80 declining. The MSCI Tadawul Index also slipped by 0.93 percent to close at 1,472.97.
Nomu Market Shows Strength
On a positive note, Saudi Arabia’s parallel market Nomu gained 79.79 points to 26,848.15, with 39 stocks advancing and 27 declining.
Top Performers and Decliners
Miahona Co. was the best-performing stock on the main index, with its share price soaring by 10 percent to SR20.68. Fawaz Abdulaziz Alhokair Co. and Saudi Chemical Co. also saw their share prices rise by 9.35 percent and 8.63 percent, respectively. On the flip side, National Shipping Co. of Saudi Arabia and ACWA Power were among the worst performers.
Announcements and New Listings
Osool and Bakheet Investment Co. drove the positive performance of Nomu, with their share price surging by 10.30 percent. Saudi Manpower Solutions Co. is set to start trading on the main market on June 12, with specified daily fluctuation limits. Thimar Development Holding Co. and Tanmiah Food Co. also made significant announcements regarding investments and dividends.