RIYADH: After performing strongly for nine consecutive sessions, Saudi Arabia’s Tadawul All Share Index edged down for the second successive day on Thursday, as it went down 14.48 points or 0.13 percent to 10,906.15.
While parallel market Nomu edged up by 214.61 points or 1.08 percent to 20,013.87, the MSCI Tadawul 30 Index dipped by 0.39 percent to close at 1482.55.
The total trading turnover of the benchmark index on Thursday was SR4.92 billion ($1.31 billion).
The top gainer of the day was Tihama Advertising and Public Relations Co., as its share prices went up by 9.98 percent to SR24.24.
Other top performers were Middle East Specialized Cables Co. and Allied Cooperative Insurance Group, whose shares went up by 7.51 percent and 5.21 percent respectively.
The worst performer of the day was Thimar Development Holding Co., which saw its share price drop by 5.35 percent to SR38.90.
On the announcements front, United Wire Factories Co. submitted an application to the Capital Market Authority to reduce the company’s capital.
In a Tadawul statement, the firm noted it will announce any future developments in this regard later.
Meanwhile, Edarat Communication and Information Technology Co. obtained CMA’s approval to increase its capital from SR6.3 million to SR12.6 million through a one-for-one bonus share distribution.
The capital raise will be financed by transferring SR6.3 million from the retained earnings, to increase the number of shares from 630,000 to 1.26 million.
Another announcement came from Tihama Advertising and Public Relations Co..
The company’s subscription to new shares and rights trading began on April 6 to increase capital to SR400 million from SR50 million, it said in a statement.
According to the statement, rights trading will end on April 13, while the subscription to the new shares will close on April 25.
