Arab News, Mon, Nov 20, 2023 | Jumada Al-Uola 6, 1445
Closing Bell: Saudi main index picks up 55 points to close at 11,137
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index gained 55.06 points, or 0.50 percent, on
Sunday to close at 11,137.03.
The total trading turnover of the benchmark index
was SR4.50 billion ($1.20 billion) as 158 of the listed stocks advanced, while
59 retreated.
Similarly, the Kingdom’s parallel market Nomu also
jumped 77.43 points, or 0.33 percent, to 23,683.36 as 26 progressed, while 27
sloped.
The MSCI Tadawul 30 Index also climbed 3.34
points, or 0.23 percent, to close at 1,446.93.
The best-performing stock of the day was Umm
Al-Qura Cement Co. The company’s share price surged 9.91 percent to SR16.86.
Other top performers included National
Agricultural Development Co. and Development Works Food Co., whose share prices
soared nearly 10 percent to SR22.96 and SR136.00, respectively.
Makkah Construction and Development Co. and East
Pipes Integrated Company for Industry also performed well.
The worst performer on the primary index was Saudi
Automotive Services Co., whose share price dropped 2.22 percent to SR52.80.
Other poor performers were Electrical Industries
Co. and Dallah Healthcare Co., whose share prices dropped about 1.7 percent to
SR2.19 and SR160, respectively.
Moreover, other laggards included National Medical
Care Co. and BinDawood Holding Co.
On the announcements front, the exchange notified
that qualified investors started subscribing to 600,000 shares of View United
Real Estate Development Co. on the Nomu on Sunday.
According to a statement to Tadawul, the shares
accounted for 18.18 percent of the firm’s capital after its initial public
offering capital of SR3.3 million divided into 3.3 million shares.
In addition, the company will issue 300,000 shares
through a capital increase, while an additional 300,000 shares will be made
available by existing shareholders.
Meanwhile, Thimar Development Holding Co. has
announced to its shareholders the investment of only SR6 million in a real
estate fund licensed by the Capital Market Authority to develop the Business
Square project, a modern administrative office complex at King Saud University,
Riyadh.
This investment is projected to have a positive
financial impact and comes within the firm’s direction of investing in
distinctive real estate projects.