Saudi Stock Market Soars
In a bullish day for the Saudi stock market, the Tadawul All Share Index surged by 0.66 percent, closing at 12,705.42. This positive momentum was reflected in the trading turnover of SR7.96 billion ($2.12 billion), with 126 stocks advancing and 96 retreating.
MSCI Tadawul Index on the Rise
The MSCI Tadawul Index also saw a significant increase, climbing by 1.01 percent to close at 1,631.03. Similarly, Nomu, the Kingdom’s parallel market, experienced gains of 0.73 percent, closing at 26,252.77, with 45 stocks advancing and 24 retreating.
Top Performers and Losers
Saudi Real Estate Co. emerged as the best-performing stock of the day, with its share price jumping by 7.28 percent to SR22.70. Other standout performers included Alkhaleej Training and Education Co., Arabian Contracting Services Co., National Company for Learning and Education, and the National Company for Glass Industries. On the flip side, Sinad Holding Co. and Ades Holding Co. faced declines in their share prices.
Saudi Electricity Co. Announces Sukuk Redemption
In other news, Saudi Electricity Co. revealed the full redemption of its international sukuk maturing on April 8. The company confirmed that the redeemed sukuk, valued at $1.5 billion, will impact its financial statements for the second quarter of 2024.