https://arab.news/66wat
- Parallel market Nomu gained 474.42 points to close at 25,919.34
- MSCI Tadawul Index increased by 6.87 points to 1,503.56
RIYADH: Saudi Arabia’s Tadawul All Share Index rebounded on Tuesday, as it gained 41.96 points, or 0.35 percent, to close at 12,001.63.
The total trading turnover of the benchmark index was SR7.34 billion ($1.96 billion), with 144 of the listed stocks advancing and 81 declining.
The Kingdom’s parallel market Nomu gained 474.42 points to close at 25,919.34, while the MSCI Tadawul Index also increased by 6.87 points to 1,503.56.
The best-performing stock on the main market was CHUBB Arabia Cooperative Insurance Co. The firm’s share price surged by 8.17 percent to SR45.
Other top performers were Saudi Public Transport Co. and Fawaz Abdulaziz Alhokair Co., whose share prices soared by 6.06 percent and 5.74 percent to SR23.12 and SR13.64, respectively.
The worst performer on the main index was Al-Baha Investment and Development Co. as the firm’s share price slipped by 8.57 percent to SR0.32.
On the announcements front, Al Rashid Industrial Co. said it completed the purchase deal worth SR9.2 million for the facility site of the International Factory for Jewel Boxes in Qassim 1st. Industrial City.
According to a Tadawul statement, the entire purchase was self-financed and said that the deal was part of the company’s expansion plans to increase production capacity and market share in the packaging industry, both locally and internationally.
The company added that the financial impact of the deal is expected to be visible in 2025.
Al Rashid Industrial Co.’s share price climbed 2.40 percent on Tuesday to SR42.70.
Almuneef Co. for Trade, Industry, Agriculture, and Contracting announced that it signed a contract valued at SR3.75 million with National Agricultural Development Co. to purchase 1,500 tons of first-generation certified wheat seeds for 2024.
The firm said that the financial impact of the four-month contract will be visible in the company’s fiscal performance in the fourth quarter of this year.
The share price of Almuneef Co. for Trade, Industry, Agriculture, and Contracting edged up by 0.78 percent to SR51.90.