Saudi Stock Market Update: Tadawul All Share Index Slips
In a turbulent day for the Saudi stock market, the Tadawul All Share Index slipped by 0.30 percent, losing 38.52 points to close at 12,666.90. The total trading turnover for the benchmark index reached SR6.28 billion ($1.67 billion) with 103 stocks advancing and 122 retreating.
Nomu Market Gains While MSCI Tadawul Index Slips
On the other hand, the Kingdom’s parallel market Nomu saw gains of 0.52 percent as it closed at 26,390.11, with 31 stocks advancing and 38 retreating. In contrast, the MSCI Tadawul Index slipped by 0.98 percent to close at 1,615.00.
Stock Performance Highlights
The standout performer of the day was Etihad Atheeb Telecommunication Co., with its share price surging by 9.98 percent to SR110.20. Other top performers included ACWA Power Co. and Saudi Steel Pipe Co. On the flip side, Sahara International Petrochemical Co. was the worst performer, seeing its share price drop by 4.72 percent to SR34.35. The Arab National Bank and the Saudi National Bank also faced losses.
Announcements Impacting the Market
Gulf Insurance Group announced a cash dividend distribution of SR78.75 million for the fiscal year 2023, with a dividend per share of SR1.5. Scientific & Medical Equipment House Co. signed a contract worth SR180 million with the Ministry of Health, while Al Kathiri Holding Co. secured a project with a total value of SR20 million from the Presidency of State Security. Saudi Ground Services Co. also signed a contract renewal worth SR2 billion with flynas.
Gulf General Cooperative Insurance Co. completed the sale of 3,321 fractional shares, generating revenue of SR44,838. These developments come amidst a dynamic and ever-evolving Saudi stock market landscape.