Saudi main index closes steady with $1.34m trading turnover

The Tadawul All Share Index in Saudi Arabia remained stable on Thursday, with a slight increase of 0.01% to close at 11,014.95. The previous day, the index had fallen by 125.85 points due to a decline in oil prices. The Nomu parallel market saw a gain of 134 points to close at 21,415.33, while the MSCI Tadawul Index fell by 5.73 points to 1,458.68. The benchmark index had a total trading turnover of SR5.03 billion ($1.34 billion), with 113 stocks advancing and 100 retreating. The Co. for Cooperative Insurance was the top performer of the day, with its share price rising by 6.33% to SR121. Alkhaleej Training and Education Co. and Electrical Industries Co. also performed well, with their share prices rising by 5.36% and 5.32%, respectively. On the other hand, Saudi Enaya Cooperative Insurance Co. was the worst performer, with its share price dropping by 9.87% to SR12.42. In other news, Obeikan Glass Co. appointed Ibrahim Mohammad Al-Hammad as its new CEO, effective from June 30, while Bank Aljazira announced its intention to establish a domestic riyal-denominated Tier 1 sukuk issuance program of up to SR5 billion to strengthen its capital base and support its financial and strategic needs.