Saudi Arabia’s Tadawul All Share Index Ends Trading in the Red
On Thursday, Saudi Arabia’s Tadawul All Share Index ended its trading session in the red, shedding 7.19 points, or 0.06 percent, to close at 11,458.98. The exchange will remain closed from June 23 as a part of the Eid Al-Adha holidays and trading will resume on July 2. The total trading turnover of the benchmark index was SR6.33 billion ($1.69 billion) as 95 stocks advanced, while 124 retracted.
Nomu Drops by 1,118.48 Points
While the parallel market Nomu dropped by 1,118.48 points to close at 26,147.86, the MSCI Tadawul Index dipped slightly to end the day at 1,510.25. The best-performing stock of the day was First Milling Co., which debuted on Tadawul on Thursday and saw its share price rising by 17.50 percent to SR70.50.
Top Performers of the Day
Other top performers were Abdulmohsen Alhokair Group for Tourism and Development and Al Mawarid Manpower Co., whose share prices edged up by 9.52 percent and 7.84 percent respectively. The worst performer of the day was Arabian Contracting Services Co., as its share price dipped by 8.25 percent to SR178.
Announcements Front
On the announcements front, Amana Cooperative Insurance Co. reported that it turned a profit of SR9.70 million in the first quarter of 2023 against a net loss of SR28.62 million during the same period a year ago. Sahara International Petrochemical Co., also known as Sipchem, announced that its board of directors had declared a 12.5 percent cash dividend, or SR1.25 per share, for the first half of 2023. Electrical Industries Co., in a Tadawul statement, said that its shareholders approved the board’s recommendation to raise capital by 25 percent through a one-for-four bonus share distribution. The company’s new capital after the share distribution will be SR562.50 million, while the current capital is SR450 million.
Conclusion
In conclusion, Saudi Arabia’s Tadawul All Share Index ended its trading session in the red, shedding 7.19 points, or 0.06 percent, to close at 11,458.98. The total trading turnover of the benchmark index was SR6.33 billion ($1.69 billion) as 95 stocks advanced, while 124 retracted. While the parallel market Nomu dropped by 1,118.48 points to close at 26,147.86, the MSCI Tadawul Index dipped slightly to end the day at 1,510.25. The best-performing stock of the day was First Milling Co., which debuted on Tadawul on Thursday and saw its share price rising by 17.50 percent to SR70.50. On the announcements front, Amana Cooperative Insurance Co., Sahara International Petrochemical Co., and Electrical Industries Co. made important announcements regarding their financial performance and capital distribution plans.