https://arab.news/z9w8x
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up 0.65 percent or 75.62 points on Monday to close at 11, 676.34 points.
Nomu, the Kingdom’s parallel market, also rose by 199.09 points or 0.85 percent to close trading at 23, 570.30. The MSCI Tadawul Index also followed suit and rose 1.04 percent to finish at 1,513.01.
The total trading volume on the main index reached SR6.4 billion ($1.7 billion) with 109 stocks advancing and 100 recording a decline. On the other hand, Nomu reported a trade volume of SR19.4 million.
Middle East Paper Co. emerged as the top performer on TASI as its share price surged 8.83 percent to SR33.90. Shares of CHUBB Arabia Cooperative Insurance Co. also jumped 7.71 percent to SR22.62.
Al-Baha Investment and Development Co. was also among the top performers, climbing 7.69 percent to SR0.14. Al-Omran Industrial Trading Co. and Saudi Company for Hardware rose 5.88 and 5.78 percent to SR42.30 and SR34.80, respectively.
Conversely, Dar Alarkan Real Estate Development Co. recorded the most significant dip, declining 3.38 percent to SR14.44.
Alinma Retail REIT Fund and Alamar Foods Co. also experienced setbacks, with their shares dropping to SR4.64 and SR94, reflecting declines of 3.33 and 3.19 percent, respectively.
The top performer on Nomu was Future Care Trading Co., which saw a 7.48 percent jump to SR16.96. MOBI Industry Co. and Watani Iron Steel Co. also recorded notable gains, with their shares closing at SR10.08 and SR2.48, marking an increase of 5.99 and 3.33 percent, respectively. Knowledge Net Co. and Sure Global Tech Co. also fared well.
On Monday’s trading session, the Electrical Industries Co.’s stock reached its highest price since December 2014 to reach SR3.02.
The stock reached its peak at a 4 percent increase, however, it closed its trading with a growth of 2.8 percent, with trading volumes reaching 16.6 million shares. The stock’s gains since the beginning of this year have now exceeded 200 percent.
On the announcement front, SABIC Agri-Nutrients Co. declared a board decision to distribute interim cash dividends to its shareholders for the second half of 2023.
The dividend will be SR3 per share, amounting to a total distribution of SR1.4 million among shareholders on record as of Feb. 7, 2024, and will be eligible for this dividend.
Furthermore, the Saudi Capital Market Authority granted its approval for Mohammad Hadi Al-Rasheed Co. to register its shares for public offering. The company plans to float 1.44 million shares, constituting 12 percent of its total shares, on the parallel market.
This share offering will be exclusively available to qualified investors, as defined in the terms and regulations of the Capital Market Authority.