https://arab.news/v6wf8
RIYADH: Saudi Arabia’s Tadawul All Share Index rebounded on Tuesday, gaining 67.35 points or 0.62 percent to close at 10,857.10.
The total trading turnover of the benchmark index was SR5.03 billion ($1.34 billion) as 130 of the listed stocks advanced, while 81 declined.
Saudi Arabia’s parallel market Nomu also gained 268.54 points on Tuesday to 22,796.86.
The MSCI 30 Tadawul Index edged up 0.68 percent to close at 1,406.07.
The best-performing stock of the day was Development Works Food Co. The company’s share price soared by 9.87 percent to SR120.20.
Other top performers of the day were Al-Babtain Power and Telecommunication Co. and Saudi Tadawul Group Holding Co., whose share prices surged by 5.29 percent and 4.67 percent, respectively.
The worst-performing stock on the main index was Thob Al Aseel Co., as its share price dropped by 10 percent to SR4.95.
The positive performance in Nomu was driven by Alqemam for Computer Systems Co., whose share price surged 9.43 percent to SR116.
On the announcements front, United Wire Factories Co., also known as Aslak, signed a memorandum of understanding for the possible acquisition of a stake in Al-Raeda Industrial Investment Co.
According to a statement to Tadawul, both parties have already discussed the deal’s final value after the valuation and due diligence process.
Meanwhile, Scientific & Medical Equipment House Co. announced that it signed an agreement with Saudi Arabia’s Ministry of Transport and Logistics Services to transport and operate road safety devices and equipment in the Riyadh region at a value of SR25.5 million.
The company said the deal’s financial impact will be visible in the first quarter of 2024.
Earlier this month, Scientific & Medical Equipment House Co. inked another agreement with the Kingdom’s Ministry of Transport and Logistics Services for transferring and operating road safety gear in Riyadh.