https://arab.news/8kuaw
RIYADH: Saudi Arabia’s Tadawul All Share Index was steady on Tuesday, marginally increasing by 11.93 points, or 0.09 percent, to close at 12,606.50.
The main index posted a trading value of SR10.28 billion ($2.74 billion) with 100 of the listed stocks advancing and 120 declining.
On the other hand, the Kingdom’s parallel market Nomu gained 316.52 points to close at 25,588.11.
The MSCI Tadawul index also edged up by 0.40 percent to 1,626.33.
The best-performing stock of the day was East Pipes Integrated Co. for Industry. The company’s share price surged by 6.37 percent to SR113.60.
Other top performers were Al-Rajhi Co. for Cooperative Insurance and Al Gassim Investment Holding Co., whose share prices soared by 6.18 percent and 6.09 percent, respectively.
The worst performer on the main index was Arabian Contracting Services Co., as its share price dipped by 6.09 percent to SR262.
The positive performance of Nomu was driven by Arabian Plastic Industrial Co., whose share price increased by 9.92 percent to SR41.55.
Meanwhile, the Saudi National Bank commenced its US dollar-denominated senior unsecured sukuk through a special purpose vehicle, adding that the offering will be available to investors inside and outside Saudi Arabia.
In a Tadawul statement, the financial institution said that the amount and terms of the offer of the sukuk will be determined subject to market conditions.
“This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk,” added SNB in the statement.
On the announcements front, Retal Urban Development Co. said that it signed a development management agreement with Business Oasis Fund worth SR25 million to develop an office and showroom complex in Al Narjis neighborhood.
According to a Tadawul statement, the project spans across 40,000 sq. m.
Retal said that the impact of the deal will reflect in the company’s financials in 2024, 2025 and 2026.