Saudi Stock Market Update: Tadawul All Share Index Slips
In Riyadh, Saudi Arabia, the Tadawul All Share Index took a dip on Tuesday, closing at 11,736.07 after shedding 51.65 points.
Trading Turnover and Stock Movements
The total trading turnover of the benchmark index reached SR5.15 billion ($1.37 billion) as 54 listed stocks advanced and 179 declined.
The Kingdom’s parallel market, Nomu, also saw a decline of 0.85 percent to 30,602.83, while the MSCI Tadawul Index inched down by 0.22 percent to 1,474.39.
Stock Performance Highlights
Riyadh Cables Group Co. emerged as the best-performing stock on the main market, with its share price surging by 7.56 percent to SR128. Media giant MBC Group’s share price also soared by 6.83 percent to SR50.80, while Elm Co.’s stock price increased by 4.03 percent to SR1,105.
On the Nomu market, Miral Dental Clinics Co. stood out as the top gainer with a 14.63 percent increase in its share price to SR113.60.
Major Announcements in the Market
The Saudi Investment Bank completed the debut offering of its $750 million dollar-denominated Tier 1 Sustainable Sukuk, part of its $1.5 billion Additional Tier 1 Sukuk Program. The offering will be settled on Nov. 27 and listed on the London Stock Exchange’s International Securities Market.
Saudi Reinsurance Co. received approval from the Kingdom’s Capital Market Authority to increase its capital through a share offering worth SR427.68 million. Tamkeen Human Resources Co. also announced its upcoming trading debut on the main market on Nov. 27, with fluctuation limits set for the initial days of trading.