Arab News
Arab News, Wed, Apr 16, 2025 | Shawwal 18, 1446
Closing Bell: Saudi markets edge higher as TASI closes at 11,617
Saudi Arabia:
Saudi Arabia’s stock market ended Tuesday’s
session on a positive note, with the Tadawul All Share Index posting modest
gains amid mixed performance across sectors.
The index rose by 19.46 points, or 0.17 percent,
to close at 11,616.81. Trading turnover on the main market reached SR6.3 billion
($1.69 billion), with 105 stocks advancing and 136 declining, reflecting
cautious optimism among investors.
The parallel market, Nomu, also saw upward
movement, gaining 23.68 points, or 0.08 percent, to settle at 29,141.30.
Meanwhile, the MSCI Tadawul Index recorded an increase of 4.84 points, or 0.33
percent, ending the day at 1,473.70.
Al Mawarid Manpower Co. led the gains on the main
market, with its share price surging 9.97 percent to close at SR150. Strong
performances were also recorded by Saudi Printing and Packaging Co., which rose
9.92 percent to SR11.08, and Saudi Research and Media Group, whose shares
climbed 6.48 percent to SR184. Rasan Information Technology Co. advanced 6.33
percent, while Middle East Specialized Cables Co. closed 5.14 percent higher.
On the downside, Saudi Cable Co. posted the
steepest loss of the session, with its share price falling 3.58 percent to
SR124. Al Sagr Cooperative Insurance Co. declined 3.15 percent to SR14.78,
followed by Sumou Real Estate Co., Raoom Trading Co., and Arabian Pipes Co.,
which recorded losses of 2.79 percent, 2.77 percent, and 2.70 percent,
respectively.
On the announcements front, Multi Business Group
Co., listed on the Nomu market, announced that it has secured a significant new
project from the Saudi Fund for Development.
The contract, which exceeds 10 percent of the
company’s annual revenue, involves comprehensive renovation work on the Fund’s
main building, including architectural, fit-out, electrical, and mechanical
upgrades.
The company confirmed that no related parties were
involved in the deal. Following the announcement, Multi Business Group Co.
shares rose 6.92 percent to close at SR19.78.
In a separate disclosure, the Saudi Exchange
stated that the fluctuation limits for Bank Albilad on April 15 would be based
on a share price of SR29.25.
This adjustment follows the bank’s extraordinary
general meeting on April 14, during which shareholders approved a capital
increase through the issuance of bonus shares. Consequently, all outstanding
orders for Bank Albilad shares will be canceled, and the Securities Depository
Center will deposit the additional shares into investor portfolios by April 17.
Bank Albilad’s share price edged up 0.51 percent on Tuesday, closing at SR29.40.