Saudi Stock Market Sees Mixed Results
In the bustling financial hub of Riyadh, Saudi Arabia, the Tadawul All Share Index took a hit on Sunday, falling by 50.12 points, or 0.43 percent, to close at 11,679.50.
With a total trading turnover of SR5.3 billion ($1.416 billion), the benchmark index saw 102 stocks rise while 119 took a dip.
The MSCI Tadawul Index followed suit, dropping by 8.60 points, or 0.58 percent, to settle at 1,461.59.
Down in the Kingdom’s parallel market, Nomu, there was also a decline of 156.24 points, or 0.59 percent, closing at 26,145.76. The market saw 37 stocks climb and 28 fall.
One standout performer of the day was Al Taiseer Group Talco Industrial Co., with its share price spiking by 9.92 percent to SR57.60.
Joining the ranks of top performers were Modern Mills for Food Products Co. and Miahona Co., witnessing their share prices soar by 9.90 percent and 8.38 percent, respectively, to reach SR49.95 and SR28.45.
Not to be outdone, Astra Industrial Group and Saudi Manpower Solutions Co. also made waves as top performers in the market.
On the flip side, Saudi Automotive Services Co. found itself at the bottom of the barrel with a 5.73 percent drop in its share price to SR52.60.
The day also saw Raydan Food Co. and Bupa Arabia for Cooperative Insurance Co. facing losses of 4.74 percent and 3.97 percent, respectively, reaching SR29.15 and SR246.80.
Meanwhile, Al Sagr Cooperative Insurance Co. and Etihad Atheeb Telecommunication Co. were among the additional underperformers in the market.
Over in the parallel market, Nomu, Saudi Top for Trading Co. emerged as the top gainer, witnessing a 10.42 percent surge in its share price to SR6.89.
Enma AlRawabi Co. and Armah Sports Co. also experienced significant gains, with their share prices rising by 9.31 percent and 6.93 percent to reach SR20.90 and SR57.10, respectively.
However, it wasn’t all sunshine and rainbows as Future Care Trading Co. faced a major setback, with its share price plummeting by 11.24 percent to SR15.
Paper Home Co. and National Building and Marketing Co. were also among the major losers on Nomu, witnessing drops of 7.95 percent and 6.67 percent, respectively, reaching SR220 and SR210.