Saudi Stock Market Sees Mixed Performance
In Riyadh, the Tadawul All Share Index took a hit on Thursday, dropping 101.16 points or 0.82 percent to close at 12,254.53.
Market Overview
The total trading turnover of the benchmark index amounted to SR6.9 billion ($1.84 billion) with 75 stocks advancing and 144 retreating.
The MSCI Tadawul Index also saw a decrease of 8.99 points or 0.58 percent to close at 1,539.63.
On the other hand, the Kingdom’s parallel market, Nomu, experienced growth, gaining 362.13 points or 1.38 percent to close at 26,688.25. This was driven by 34 stocks advancing and 27 retreating.
Top Performers
Fawaz Abdulaziz Alhokair Co. emerged as the best-performing stock of the day, with its share price surging by 6.39 percent to SR11.32.
Other notable performers include Etihad Atheeb Telecommunication Co. and Saudi Cable Co., which saw their share prices soar by 5.57 percent and 5.35 percent, respectively.
National Metal Manufacturing and Casting Co. and Saudi Steel Pipe Co. also fared well.
Worst Performers
Al Sagr Cooperative Insurance Co. was the worst performer of the day, with its share price dropping by 7.11 percent to SR33.30.
ACWA Power and Bawan Co. also did not perform well, with their share prices declining by 6.87 percent and 5.78 percent, respectively.
Announcements and Developments
Bank AlJazira approved an increase in capital by SR2.05 billion, while Banque Saudi Fransi reported a 7 percent increase in profits during the first quarter of 2024.
Saudi Exchange approved the listing request for government debt instruments issued by Saudi Arabia, totaling SR5.1 billion.
Rawabi Holding Co. successfully concluded its largest Saudi Riyal-denominated sukuk issuance, totaling SR1.2 billion.