Saudi Arabia’s Stock Market Slips
In a slight dip, Saudi Arabia’s Tadawul All Share Index lost 58.87 points, or 0.51 percent, closing at 11,553.16. The total trading turnover reached SR8.05 billion ($2.14 billion) with 52 stocks advancing and 163 retreating.
Nomu Market Sees Decrease
The Kingdom’s parallel market Nomu also experienced a slip, with a decrease of 107.49 points or 0.41 percent, closing at 25,925.53. Of the listed stocks, 28 advanced while 32 retreated.
MSCI Tadawul Index Drops
The MSCI Tadawul Index slipped 7.61 points, or 0.52 percent, to close at 1,445.81.
Stock Highlights
The best-performing stock of the day was Dr. Soliman Abdel Kader Fakeeh Hospital Co., with a 10.09 percent surge in share price. Other top performers include Alkhorayef Water and Power Technologies Co., Ades Holding Co., Taleem REIT Fund, and Al Jouf Cement Co. On the other hand, Fawaz Abdulaziz Alhokair Co. was the worst performer, with a 5.30 percent drop in share price.
Nomu Market Top and Bottom Performers
In the Nomu market, Bena Steel Industries Co. was the best performer of the day, with a 9.09 percent jump in share price. Future Care Trading Co. was the worst performer, with a 5.59 percent drop in share price.
Announcements Impacting the Market
Bupa Arabia for Cooperative Insurance Co. announced the final approval from the Insurance Authority to sell their new insurance product in Saudi Arabia. Ladun Investment Co. also made an announcement of a five-year rental contract with the Real Estate Development Fund in Riyadh, with a total value of SR107 million, expected to have a positive financial impact from 2024 until 2028.