Stock Market Steady in Saudi Arabia’s Tadawul All Share Index
The Saudi Arabian stock market, Tadawul All Share Index, remained steady in the first session of the week, gaining 0.75 points or 0.01 percent to close at 11,516.89. The trading turnover of the benchmark index was SR5.35 billion ($1.43 billion), as 120 stocks advanced, while 95 retracted. The MSCI Tadawul Index also picked up 0.03 percent to 1,519.18.
Nomu Continues Upward Movement
Parallel market Nomu continued its upward movement for the fourth consecutive session, leaping 1,990.46 points to close at 28,988.06.
Top Performers of the Day
AlJazira REIT was the top-performing stock of the day, as its share price soared by 6.67 percent to SR20.80. Other top performers included Mouwasat Medical Services Co. and Al Hammadi Holding, whose share prices surged 6.11 percent and 6.06 percent, respectively.
Worst Performer of the Day
The worst performer was Alinma Tokio Marine Co., whose share price dipped by 8.15 percent to SR14.66.
Future Care Trading Co. Drives Nomu’s Performance
Future Care Trading Co. drove Nomu’s performance on Thursday, as the firm’s share price soared 29.89 percent to SR59.10.
Announcements from Companies
Bupa Arabia for Cooperative Insurance Co. informed Tadawul that it renewed a contract with Saudi Basic Industries Corp. to offer health insurance services to its employees and their family members for one year starting July 4, 2023.
Knowledge Economic City Co. announced that it signed a framework agreement with China Gezhouba International Engineering Group Co. to develop its projects. In a bourse filing, KEC said that both companies would cooperate in the engineering, procurement, and construction phase for some of its projects.
Jamjoom Pharmaceuticals Factory Co., on June 18, announced that it would start trading on the main index from June 20. According to a statement to Tadawul, the upper and lower limits of the daily and static fluctuation of the company’s shares would be 30 percent and 10 percent, respectively.
Conclusion
The Saudi Arabian stock market has remained steady in the first session of the week, with Nomu continuing its upward movement for the fourth consecutive session. AlJazira REIT was the top-performing stock of the day, while Alinma Tokio Marine Co. was the worst performer. Companies such as Bupa Arabia for Cooperative Insurance Co., Knowledge Economic City Co., and Jamjoom Pharmaceuticals Factory Co. have made announcements regarding their contracts and projects.