Saudi Stock Market Soars to New Heights
In a remarkable surge, Saudi Arabia’s Tadawul All Share Index jumped 74.99 points, or 0.63 percent, closing at an impressive 12,069.21 on Sunday.
Trading Turnover Hits SR5.69 Billion
The total trading turnover for the benchmark index reached an astounding SR5.69 billion ($1.51 billion), with 189 listed stocks advancing and only 35 retreating.
MSCI Tadawul Index on the Rise
The MSCI Tadawul Index also saw a positive trend, increasing by 6.27 points, or 0.42 percent, to close at 1,510.67.
Nomu Market Surges Ahead
The Kingdom’s parallel market, Nomu, experienced a significant surge, gaining 600.43 points, or 2.45 percent, to close at 25,123.38. Of the listed stocks, 48 advanced while 20 retreated.
Top Performers of the Day
Fawaz Abdulaziz Alhokair Co. stole the spotlight as the best-performing stock of the day, with its share price skyrocketing by 9.98 percent to SR13.44. Other top performers included Development Works Food Co. and Batic Investments and Logistics Co.
Financial Results and Market Moves
Saudi Advanced Industries Co. announced its estimated financial results, showing a significant surge in net profit. Additionally, the Saudi Exchange approved the transfer of Shatirah House Restaurant Co. from Nomu to the main market, with a capital of SR35 million and 35 million shares.
Exciting News for Tamkeen Human Resources Co.
Tamkeen Human Resources Co. announced the price range for its initial public offering, setting it between SR46 and SR50 per share. The institutional book-building period is currently underway, with the offering consisting of a secondary offering of 7.95 million offer shares.