RIYADH: Saudi Arabia’s Tadawul All Share Index began the week by gaining 15.87 points, or 0.13 percent, to close at 12,518.22.
The total trading turnover of the benchmark index on Sunday was SR6.39 billion ($1.70 billion) as 147 of the stocks advanced, while 76 retreated.
The Kingdom’s parallel market, Nomu, also gained 232.50 points, or 0.87 percent, to close at 26,940.18. This comes as 35 of the stocks advanced while as many as 27 retreated.
Meanwhile, the MSCI Tadawul Index slipped 4 points, or 0.25 percent, to close at 1,571.11.
The best-performing stock on the main index was Ash-Sharqiyah Development Co. The company’s share price surged 9.95 percent to SR21.44.
Other top performers included Batic Investments and Logistics Co. as well as Saudi Ground Services Co.
The worst performer was Fawaz Abdulaziz Alhokair Co., whose share price dropped by 5.16 percent to SR11.40.
On the announcements front, Saudi AZM for Communication and Information Technology Co. announced its board’s resolution on approving the firm’s transfer from the parallel market to the main market and the appointment of Al Rajhi Capital as a financial adviser for the move.
According to a Tadawul statement, the transfer is subject to regulatory approval and depends on the fulfillment of all market requirements. Any material developments regarding the event will be announced as they occur, it added.
Saudi Automotive Services Co. announced the starting of a SR400 million project to gradually develop its locations over the next three years in accordance with regulations required for fuel stations and service centers issued by the Permanent Executive Committee for Service Centers and Fuel Stations.
According to a bourse filing, the company is also planning to develop and improve services at its existing locations and add new benefits such as electric vehicle chargers, self-services, and AD LED screens.
The project is expected to contribute positively to sales growth and enhance customer experience and SASCO’s competitive position.
Furthermore, the undertaking will be financed through the company’s resources and the credit facilities signed with local banks.
