Riyadh Stock Exchange: Tadawul All Share Index Sees Mixed Results
The Saudi Arabia’s Tadawul All Share Index experienced a slight dip on Monday, losing 0.61 points to close at 12,372.50. The total trading turnover for the benchmark index was SR7.36 billion ($1.96 billion) with 116 stocks advancing and 110 retreating.
Market Movements
The MSCI Tadawul Index also saw a decrease of 2.63 points, or 0.17 percent, closing at 1,549.13. On the other hand, the parallel market, Nomu, showed an increase, gaining 0.85 points to close at 26,791. This came as 20 stocks advanced while 39 retreated.
Top Performers
Bupa Arabia for Cooperative Insurance Co. was the best-performing stock, with its share price surging by 10 percent to SR275. Other top performers included Mediterranean and Gulf Insurance and Reinsurance Co. and Al-Rajhi Company for Cooperative Insurance, with their share prices soaring by 9.97 percent and 9.93 percent, respectively.
Announcements and Financial Results
Bupa Arabia for Cooperative Insurance Co. announced a significant increase in profits for the first quarter of 2024, with net investment income and insurance revenues also showing growth. Al-Rajhi Company for Cooperative Insurance also reported positive interim financial results for the period ending March 31, with revenues and net profit after zakat both increasing.