Saudi Stock Market Shows Resilience with Tadawul All Share Index Gaining
In a display of resilience, Saudi Arabia’s Tadawul All Share Index rose by 0.04 percent to close Thursday’s trading session at 12,728.53, gaining 5.38 points.
Market Turnover and Performance
The total trading turnover of the benchmark index reached SR14.36 billion ($3.89 billion) as 126 stocks advanced and 93 retreated. The Kingdom’s parallel market, Nomu, also saw a rise of 1.16 percent, with 43 stocks advancing and 25 retreating.
The MSCI Tadawul Index climbed 0.05 percent to close at 1,606.22, showing positive movement in the market.
Stock Highlights
Wafrah for Industry and Development Co. emerged as the best-performing stock of the day with a surge of 9.97 percent, reaching SR49.10. Saudi Research and Media Group and Saudi Tadawul Group Holding Co. also showed strong performance.
On the flip side, Morabaha Marina Financing Co. experienced a drop of 4.75 percent, closing at SR11.62 as the worst performer.
Financial Results Announcements
Yanbu Cement Co. announced its annual consolidated financial results, reporting a net profit of SR119.92 million, down 44.33 percent from the previous year.
Wataniya Insurance Co. also shared its annual financial results, revealing a net profit of SR84.6 million, a significant improvement from the previous year’s net loss.
Dallah Healthcare Co. announced a net profit of SR360.1 million for 2023, showing a 31.21 percent increase from the previous year, attributed to various factors including improved gross profits and performance of associate firms.
Regulatory Approvals
The Capital Market Authority board approved Saudi Manpower Solutions Co.’s application for registration and offering of 120 million shares, representing 30 percent of the firm’s share capital.