https://arab.news/ydgts
RIYADH: Saudi Arabia’s Tadawul All Share Index gained 17.97 points — or 0.17 percent — on Thursday to close at 10,682.01.
While MSCI Tadawul 30 Index inched up 2.14 points to close at 1,481.90, the parallel market Nomu surged 159.71 points to 19,213.17.
TASI’s total trading turnover of the benchmark index on Thursday to SR3.5 billion ($930 million), with 110 stocks of the listed 223 declining and 93 advancing.
BinDawood Holding Co. was the topmost gainer of the day, which rose 4.9 percent to SR60. The other gainers were Al Kathiri Holding Co., Development Works Food Co., Al Gassim Investment Holding Co. and Aldawaa Medical Services Co.
The worst performer on Thursday was Saudi Kayan Petrochemical Co., which fell 3.37 percent to SR13.18. Other top decliners were Alamar Foods Co., Tourism Enterprise Co., Alinma Tokio Marine Co. and Qassim Cement Co.
Among sectoral indices, 14 of the 21 listed on the stock exchange advanced while the rest declined. The Food & Staples Retailing Index was the top performer as it hiked 2.03 percent to 9,056.96. Five out of six constituent stocks ended positively, while Abdullah Al Othaim Markets Co. slid 0.38 percent at SR104.06.
The Diversified Financial Index fared the lowest as it shut shop at 6,153.29 points, down 1.17 percent. Saudi Tadawul Group Holding Co., the index’s essential constituent, slipped 2 percent to SR167.
On the announcements front, ACWA Power informed Tadawul that it started the operation of the first phase of the concentrated solar power project Noor Energy Co. 1, with a capacity of 200 megawatts.
Noor Energy 1 project is the fourth phase of Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
The statement said that the project’s total operational capacity reached 417 MW out of a total of 950 MW generated by CSP and photovoltaic panels.
The expected financial impact of operating the project’s final phase with a capacity of 950 MW will appear on the company’s financials in the first quarter of 2024.
Ataa Educational Co. informed Tadawul that its shareholders approved the board recommendation to distribute a cash dividend at SR1 a share, or 10 percent of capital, for the fiscal year ended July 31, 2022, allocating a total of SR42.09 million.
Saudi Cable Co., meanwhile, announced that the company’s strategic plan, debt capitalization, unwillingness to invest outside the Kingdom and the cost of lending, mentioned by Managing Director Nael Fayez in a TV interview, are proposals intended to work through partnerships between the top management and several consulting entities.
The proposals will be submitted to the financial restructuring trustee upon appointment, the statement said.