Saudi Stock Market Update: Tadawul All Share Index Rises
In a positive turn of events, Saudi Arabia’s Tadawul All Share Index saw a rise on Tuesday, gaining 23.7 points, or 0.2 percent, to close at 11,986.
Trading Turnover and Performance
The total trading turnover of the benchmark index was SR7.18 billion ($1.94 billion), with 143 stocks advancing and 80 retreating.
In the parallel market, Nomu rose by 104.79 points, or 0.42 percent, closing at 25,600.58. With 32 stocks advancing and 31 retreating.
Top Performers and Losers
The best-performing stock of the day was Saudi Enaya Cooperative Insurance Co., with a share price surge of 9.94 percent to SR17.92. Other top performers included Amana Cooperative Insurance Co. and Saudi Industrial Development Co.
On the flip side, Tourism Enterprise Co. was the worst performer, with its share price dropping by 4.21 percent to SR0.91. Other worst performers were Saudi Fisheries Co. and Miahona Co.
Parallel Market Highlights
In the parallel market, Leaf Global Environmental Services Co. stole the spotlight with a 18.88 percent share price surge to SR85. Other top performers included Fad International Co. and Qomel Co., while Banan Real Estate Co. was the worst performer.
Announcements and Market Modernization
In other news, the Capital Market Authority approved the public offering of Jadwa Investment Co. for its “Jadwa Saudi Equity Fund II.” Known for its Shariah-compliant investments, Jadwa Investment is a key player in Saudi’s asset management landscape.
This announcement is part of the Kingdom’s efforts to diversify its economy and modernize the financial ecosystem. Reforms include the introduction of various investment products like exchange-traded funds and real estate investment trusts, catering to the growing demand for diverse investment options.
Additionally, improvements in transparency, governance, and investor protection have been implemented, ensuring that listed companies adhere to global best practices.