https://arab.news/v2dsk
RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward trend on Tuesday, gaining 86.04 to close at 12,123.08, hitting its highest level since September 2022.
The total trading turnover of the benchmark index was SR9.88 billion ($2.63 billion), as 137 of the listed stocks advanced, while 79 retreated.
Saudi Arabia’s parallel market Nomu gained 142.14 points to close at 24,630.40, while the MSCI Tadawul Index also edged up by 0.92 percent to 1,575.98.
The best-performing stock of the day was CHUBB Arabia Cooperative Insurance Co., which saw its share price soar by 10 percent to SR30.25.
Other top gainers were SAL Saudi Logistics Services Co. and Saudi Co. for Hardware, whose share prices surged by 9.93 percent and 9.89 percent, respectively.
The worst performer on the main market was Saudi Arabian Amiantit Co., whose share price dipped by 6.04 percent to SR62.20.
Keir International Co. drove a strong performance on the parallel market. The company’s share price surged by 8.46 percent to SR5.
Naseej for Technology Co. and Jahez International Co. for Information System Technology were other top performers on Nomu, as their share prices rose by 5.01 percent and 4.63 percent, respectively.
The worst performer on the parallel market was Watani Iron Steel Co., whose share price dipped by 7.06 percent to SR2.50.
On the announcements front, TAM Development Co. revealed that it has signed a contract worth SR4.4 million with Diriyah Gate Co. to provide consulting services.
In a Tadawul statement, TAM said that the six-month contract was signed on Jan. 1, 2024, and the financial impacts of the deal will be visible in the company’s performance beginning from the first quarter of this year.
Meanwhile, Lana Medical Co. announced that it won a contract from Security Forces Hospital in Riyadh worth SR2.8 million to transport and dispose of ordinary medical waste.
In a statement, the company said that the paperwork will be signed on Feb. 1, 2024, and the deal is expected to have an impact on its financials starting from the first quarter.