https://arab.news/58zgd
RIYADH: Saudi Arabia’s Tadawul All Share Index rebounded on Tuesday after two days of backward trend as it edged up 64.72 points, or 0.61 percent, to close at 10,640.06.
The total trading turnover of the benchmark index was SR4.88 billion ($1.30 billion) as 67 of the listed stocks advanced while 150 declined.
The Kingdom’s parallel market Nomu shed 145.38 points to close at 22,278.01 while the MSCI Tadawul Index gained 13.07 points to settle at 1,369.64.
The best-performing stock on the main index was Thimar Development Holding Co. The company’s share price soared by 6.26 percent to SR17.32.
Other top firms were Bupa Arabia for Cooperative Insurance Co. and Riyad Bank, whose share prices surged by 5.49 percent and 5.09 percent, respectively.
The worst performer of the day was Gulf Union Alahlia Cooperative Insurance Co. as its share price dropped by 5.33 percent to SR12.78.
The strongest company on the parallel market was Al Rashid Industrial Co. as its share price soared by 8.11 percent to SR40.
On the announcements front, Saudi Networkers Services Co. announced that its shareholders approved the board of directors’ recommendation to pay cash dividends of SR2 per share or 20 percent of its capital for the first half of this year, according to a statement in Tadawul.
Earlier in August, Saudi Networkers Services Co. revealed that its net profit for the first half of this year dropped by 20 percent to SR16.5 million from SR20.6 million in the same period a year ago.
Meanwhile, Osool & Bakheet Investment Co. has set the price range for its initial public offering in Nomu between SR34 and SR37 per share.
Amwal Financial, the monetary adviser on the offering, said that the book-building period for qualified investors will run from Oct. 15-19.