Saudi Stock Market Sees Positive Movement
In a promising turn of events, Saudi Arabia’s Tadawul All Share Index inched up on Monday, registering a gain of 142.16 points, equivalent to 1.19 percent, to reach a closing figure of 12,097.40.
With a total trading turnover of SR6.81 billion ($1.81 billion), the benchmark index saw 126 listed stocks on the rise, while 96 experienced a decline.
Market Highlights
The MSCI Tadawul Index saw a slight decrease of 19.11 points, or 1.28 percent, closing at 1,516.60.
The parallel market Nomu witnessed a notable surge, gaining 287.58 points, or 0.92 percent, to close at 31,502.85. Out of the listed stocks, 45 advanced while 34 retreated.
Top Performers
The standout stock of the day was the Mediterranean and Gulf Insurance and Reinsurance Co., with its share price soaring by 5.28 percent to SR22.32.
Other notable performers included Emaar The Economic City, witnessing a 5 percent increase to SR8.40, and Astra Industrial Group, observing a 4.21 percent rise to SR183.
Al Rajhi Bank and Al-Rajhi Co. for Cooperative Insurance also experienced positive movement, with their share prices climbing by 4.09 percent and 3.66 percent to SR94.20 and SR181.40, respectively.
Biggest Decliners
Etihad Atheeb Telecommunication Co. saw the most significant decline of the day, with its share price dropping by 3.38 percent to close at SR114.20.
Middle East Healthcare Co. and Almunajem Foods Co. also recorded declines, with their shares slipping 3.01 percent and 2.86 percent to SR74 and SR95.20, respectively.
Fawaz Abdulaziz Alhokair Co. and Tamkeen Human Resource Co. were not spared from losses in today’s session, with their share prices decreasing by 2.57 percent and 2.24 percent to SR12.12 and SR69.70, respectively.
New Listing on the Market
The Saudi Exchange announced the listing and trading of Banan Real Estate Co. on the main market starting Monday. Banan’s opening price on TASI matched its last closing price on Nomu at SR8.25. By the end of the session, the company’s shares dipped 0.61 percent to close at SR8.20.
This transition has increased the number of companies listed on TASI to 227, excluding 19 real estate investment trusts, while reducing the number of firms on Nomu to 104, excluding Alwaha REIT Fund.