Saudi Stock Market Soars to New Heights
In a remarkable turn of events, Saudi Arabia’s Tadawul All Share Index closed in the green on Monday, gaining an impressive 183.15 points, equivalent to 1.58 percent, to reach a closing figure of 11,808.25.
Trading Turnover Hits Record High
The total trading turnover of the benchmark index reached a staggering SR7.9 billion ($2.1 billion) as 207 stocks advanced, while 22 retreated.
Nomu Market Sees Significant Growth
The Kingdom’s parallel market Nomu also experienced a surge, edging up by 445.62 points, or 1.71 percent, to close at 26,563.86. This significant rise was fueled by 26 stocks advancing, while 32 retreated.
MSCI Tadawul Index Climbs Higher
Similarly, the MSCI Tadawul Index also saw a positive trend, gaining 22.06 points, equivalent to 1.52 percent, to close at 1,477.38.
Top Performers of the Day
The best-performing stock of the day was Saudi Research and Media Group, witnessing a remarkable surge of 10 percent to reach SR220. Other top performers included Etihad Atheeb Telecommunication Co. and Aljazira Takaful Taawuni Co., with their share prices soaring by 7.10 percent and 6.94 percent, respectively.
Notable Declines
On the flip side, Saudi Pharmaceutical Industries and Medical Appliances Corp. experienced a decline of 3.75 percent, with their share price dropping to SR29.50. Astra Industrial Group and ACWA Power also saw their share prices falling by 3.40 percent and 3.10 percent, respectively.
Top Gainer on Nomu Market
Academy of Learning Co. emerged as the top gainer on the Nomu market, with its share price rising by an impressive 14.06 percent to reach SR12.98. Other notable performers on the parallel index included Future Care Trading Co. and Bena Steel Industries Co., witnessing significant growth in their share prices.
Mixed Results for Some Companies
While Al Mohafaza Company for Education and Osool and Bakheet Investment Co. fared well, Knowledge Net Co. experienced a significant drop in its share price on Nomu, falling by 5.69 percent. Similarly, the share prices of Banan Real Estate Co. and Pan Gulf Marketing Co. also saw a decline, standing at SR5.70 and SR49, respectively.