Breaking News: TASI Plummets to 12,355 Points at Closing Bell!

In a surprising turn of events, Saudi Arabia’s Tadawul All Share Index experienced a dip on Wednesday, losing 128.72 points, or 1.03 percent, to close at 12,355.69.    

The trading turnover of the benchmark index amounted to a staggering SR8.45 billion ($2.25 billion), with 41 stocks advancing and 187 stocks retreating.   

The MSCI Tadawul Index also saw a decrease of 14.78 points, or 0.95 percent, closing at 1,548.62. Meanwhile, the Kingdom’s parallel market Nomu took a hit, losing 365.84 points, or 1.37 percent, to close at 26,326.12. Out of the listed stocks, 17 advanced while 45 retreated. 

Al-Rajhi Co. for Cooperative Insurance emerged as the best-performing stock of the day, with a notable surge of 9.87 percent to SR138. Other top performers included Al Sagr Cooperative Insurance Co. and First Milling Co., with their share prices soaring by 6.38 percent and 5.63 percent, respectively. 

On the flip side, Al-Baha Investment and Development Co. faced a decline of 7.14 percent, while National Co. for Learning and Education and Arriyadh Development Co. also experienced drops in their share prices. 

On the Kingdom’s parallel market Nomu, Osool and Bakheet Investment Co. stole the spotlight with a surge of 12.05 percent. Other notable performers on Nomu included Arabian Plastic Industrial Co. and Lana Medical Co. Meanwhile, Jahez International Co. for Information System Technology faced a decline in its share price. 

In an exciting announcement, HSBC Saudi Arabia revealed the intention of Dr. Soliman Abdel Kader Fakeeh Hospital Co., also known as Fakeeh Care Group, to proceed with its initial public offering on the main market of Saudi Exchange. The offering will include 49.8 million ordinary shares, marking a significant move for the company. 

With the approval from Saudi Exchange and the Capital Market Authority, all eyes are on the pricing of shares after the book-building period.