Saudi Stock Market Update: Tadawul All Share Index Slips, Nomu Rises
On Thursday, the Tadawul All Share Index in Saudi Arabia slipped by 1.41 percent, losing 175.70 points to close at 12,284.41. The total trading turnover for the benchmark index was SR7.31 billion ($1.94 billion) with 41 stocks advancing and 184 retreating.
Nomu Market Performance
On the other hand, the Kingdom’s parallel market Nomu rose by 0.74 percent, gaining 199.85 points to close at 27,086.44. 20 stocks advanced while 45 retreated.
MSCI Tadawul Index Update
The MSCI Tadawul Index slipped by 1.28 percent, losing 19.92 points to close at 1,537.54. The best-performing stock of the day was Al-Babtain Power and Telecommunication Co., with a surge of 7.77 percent to SR45.75. Other top performers included Retal Urban Development Co. and Tanmiah Food Co.
Stock Performance Highlights
The worst performer was Gulf Union Alahlia Cooperative Insurance Co., with a share price drop of 10 percent to SR22.68. Other worst performers were Allied Cooperative Insurance Group and Al-Etihad Cooperative Insurance Co.
Financial Results Announcement
Several companies announced their interim financial results, including Jamjoom Pharmaceuticals Factory Co., National Gas and Industrialization Co., Modern Mills for Food Products Co., and Saudi Industrial Investment Group. These announcements reflected various increases in net profits, driven by factors such as revenue growth, efficiency improvements, and reduction in expenses.