Saudi Arabia’s Tadawul All Share Index Slips by 0.83 Percent
On Monday, Saudi Arabia’s Tadawul All Share Index slipped by 0.83 percent, shedding 95.19 points to close at 11,421.70. The MSCI Tadawul Index also dropped by 0.71 percent to close at 1,508.36. The total trading turnover of the benchmark index was SR6.07 billion ($1.62 billion), with 32 stocks advancing and 188 retracting.
Top Performers and Worst-Performing Stock
Al Mawarid Manpower Co. was the top performer of the day, with its share price soaring by 30 percent to SR83.20. Al-Baha Investment and Development Co. and ACWA Power Co. were the other top gainers whose share prices edged up by 5.11 percent and 4.34 percent, respectively. The worst-performing stock was Sadr Logistics Co., with its share price dropping by 9.94 percent to SR4.44.
Nomu Market
The upward movement of the Kingdom’s parallel equity market, Nomu, also came to an end after four days as it dipped 2.81 percent or 813.22 points to close at 28,174.84. In the parallel market, Amwaj International Co. became the top gainer as it rose by 10.28 percent to close at SR118.20. The worst performer in Nomu was Banan Real Estate Co., with its share price dropping by 13.47 percent to SR7.
Announcements
Arabia Insurance Cooperative Co. revealed that it recorded a net profit of SR11.56 million before zakat, compared to a net loss of SR9.28 million in the same quarter of the previous year. Meanwhile, Tadawul announced that Morabaha Marina Financing Co. will start its trading in the main market on June 21. According to a Tadawul statement, the upper and lower limits of the daily and static fluctuation of the company’s shares would be 30 percent and 10 percent, respectively. AME Co. for Medical Supplies announced that its shareholders approved a 20 percent cash dividend, or SR2 per share, for 2022. In 2022, the company reported a net profit of SR26.7 million, up 26 percent compared to 2021.
Conclusion
In conclusion, Saudi Arabia’s Tadawul All Share Index slipped by 0.83 percent on Monday, shedding 95.19 points to close at 11,421.70. The MSCI Tadawul Index also dropped by 0.71 percent to close at 1,508.36. The total trading turnover of the benchmark index was SR6.07 billion ($1.62 billion), with 32 stocks advancing and 188 retracting. Al Mawarid Manpower Co. was the top performer of the day, with its share price soaring by 30 percent to SR83.20, while Sadr Logistics Co. was the worst-performing stock, with its share price dropping by 9.94 percent to SR4.44.