Saudi Stock Market Update: Tadawul All Share Index Slips
On Monday, Saudi Arabia’s Tadawul All Share Index experienced a slight dip, losing 19.42 points or 0.16 percent to close at 11,831.22. The total trading turnover for the benchmark index was SR5.8 billion ($1.5 billion) with 110 stocks advancing and 108 retreating.
Nomu Market Also Sees a Decline
The Kingdom’s parallel market, Nomu, also slipped by 189.65 points or 0.71 percent, closing at 26,448.54. Despite 30 stocks advancing, 34 retreated on this market as well.
MSCI Tadawul Index Drops
Similarly, the MSCI Tadawul Index decreased by 2.67 points or 0.18 percent, closing at 1,470.41.
Top Performers of the Day
The best-performing stock of the day was Saudi Paper Manufacturing Co., with a share price surge of 4.89 percent to SR75.10. Other top performers included CHUBB Arabia Cooperative Insurance Co. and Middle East Specialized Cables Co., whose share prices soared by 3.96 percent and 3.46 percent respectively.
Exciting News in the Market
SABIC has received all necessary approvals to complete the acquisition of its subsidiary, HADEED, by the Public Investment Fund. Al Taiseer Group Talco Industrial Co. is also listing a 30 percent stake on the Tadawul stock exchange following an initial public offering.