Saudi Stock Market Sees Positive Movement
In a promising development, Saudi Arabia’s Tadawul All Share Index climbed by 0.63 percent on Thursday, adding 73.27 points to close at 11,729.62. The trading turnover hit SR6.61 billion ($1.76 billion) as 116 stocks made gains while 108 faced a decline.
Market Highlights
The MSCI Tadawul Index also showed growth, rising by 0.8 percent to close at 1,470.19. However, the Kingdom’s parallel market Nomu saw a slight dip of 0.2 percent, closing at 26,302 with 24 stocks advancing and 42 retreating.
Stock Performance
Al Taiseer Group Talco Industrial Co. stole the show with a 9.97 percent surge in share price to reach SR52.40. Rasan Information Technology Co. and Saudi Ceramic Co. also performed well, with their share prices climbing by 8.7 percent and 6.46 percent, respectively. On the flip side, Al-Baha Investment and Development Co. experienced a 7.69 percent drop in its share price.
Market News
Leaf Global Environmental Services Co. made its debut on the Nomu-Parallel Market at SR50 per share, offering 1.5 million shares to investors. This marks the 13th listing on Nomu this year.
In another update, Al-Saqr Insurance Co. received approval for a capital increase from SR140 million to SR300 million through the issuance of priority rights shares, taking the total number of company shares to 30 million. Shareholders can expect their priority rights to be deposited in their wallets on July 1.