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Saudi Main Index Dips, Parallel Market Soars at Closing Bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped slightly on Thursday as it shed 16.89 points, or 0.15 percent, to close at 11,516.14. The total trading turnover of the benchmark index was SR9.25 billion ($2.47 billion), as 89 stocks advanced, while 116 retracted. The Kingdom’s parallel equity market, Nomu, continued its spectacular performance for the third consecutive day as it soared 2,048.72 points, or 8.21 percent, to reach 26,977.60. The MSCI Tadawul Index, however, dropped 0.05 percent to close at 1,518.74.
Business

Saudi Stock Market Closes Week with Green Finish

After rising for four consecutive days, Saudi Arabia’s Tadawul All Share Index ended the week in green, as it gained 24.31 points, or 0.21 percent, to close at 11,397.14. The total trading turnover of the benchmark index hit SR7.14 billion ($1.90 billion), as 113 stocks advanced, while 94 retracted.  While parallel market Nomu gained 368.10 points to close at 21,849.68, MSCI Tadawul Index increased 0.16 percent to end the day at 1,509.41.
Business

‘Saudi Female Entrepreneurs Shine in Women in Tech Competition’

CAIRO: Going by the success of the “Women in Tech” competition, it is evident that female-led startups are set to revolutionize Saudi Arabia’s technology sector.  
Business

Lucid Group aims to raise $3bn, with Saudi PIF as main investor.

RIYADH: Lucid Group plans to raise $3 billion through a stock offering, 66 percent of which will come from Saudi Arabia’s Public Investment Fund.  The California-based EV maker said Ayar Third Investment Co., which is its majority stockholder and an affiliate of the PIF, has agreed to buy as much as 265.7 million shares in a private placement for an estimated $1.8 billion,  It said the remainder will be raised from a public offering of 173.5 million shares of common stock.  
Business

“CMA to List 24+ Firms on Saudi Stock Market by 2023”

RIYADH: Saudi Arabia has more than 24 initial public offerings lined up for 2023 as it seeks to create boost the economy and create financing channels for emerging sectors. A report issued by the Capital Market Authority on Sunday said the Kingdom intends to boost its market’s appeal to foreign investors and increase their ownership as a percentage of the total market value of free float shares to reach 16.5 percent by the end of 2023.
Business

“FTSE Russell Includes 5 Saudi Companies in Indices”

RIYADH: FTSE Russell has added five Saudi companies to its indices, it announced in its quarterly review. It is a leading global index provider of benchmarks, analytics, and data solutions. Saudi firms Luberef, Arabian Drilling, and Marafiq have been added to FTSE Mid Cap Index and FTSE Global Equity Index. While Alsaif Gallery and 2P have become part of the FTSE Global Microcap Index Series and Global Equity Index All-Cap Index.
Business

TASI up 66.80 points with healthcare stocks leading at closing bell

RIYADH: Saudi Arabia’s Tadawul All Share Index gained 66.80 points, or 0.59 percent, to close at 11,344.40 on Thursday as 132 of the 224 stocks rose, while 72 closed down. The top-performing index of the Saudi Stock Exchange was the Pharma, Biotech & Life Science Index, which soared 6.6 percent, followed by the insurance and transportation sectors, which rose 2 percent and 1.14 percent, respectively. While the parallel market Nomu rose 0.15 percent to close at 20,832.55, the MSCI Tadawul Index edged up 0.60 percent to close at 1,526.51.
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