Arab News, Monday, Jan 23, 2023 | Rajab 1, 1444
Closing bell: TASI ends 42 points higher to close at 10,724
Saudi Arabia: Saudi Arabia’s Tadawul
All Share Index on Sunday gained 42.61 points — or 0.40 percent — to close at
While MSCI Tadawul 30 Index edged up 4.61 points
to close at 1,486.51, the parallel market Nomu slumped 243.64 points to
TASI’s total trading turnover of the benchmark
index on Sunday was recorded at SR3.09 billion ($820 million), with 140 stocks
of the listed 223 advancing and 64 falling.
Hail Cement Co. was the topmost gainer of the day,
which rose 6.51 percent to SR12.10. The other top gainers were Saudi Advanced
Industries Co., Middle East Healthcare Co., Al Hammadi Holding and East Pipes
Integrated Co. for Industry.
The worst performer on Sunday was Dur Hospitality
Co., which fell 2.69 percent to SR22.40. Other top decliners were Arabian Cement
Co., Qassim Cement Co., Dallah Healthcare Co. and Almarai Co.
Incidentally, Almarai Co. declared its financial
results and registered a 13 percent rise in its net profit after zakat and tax
for 2022 to SR1.75 billion from SR1.56 billion in 2021. Its revenues during 2022
increased 18 percent to SR18.7 million from SR15.8. The dairy major’s share,
however, fell 1.61 percent to SR55.10.
Among sectoral indices, 16 of the 21 listed on the
stock exchange advanced while the rest declined. The Diversified Financial Index
was the top performer as it rose 1.87 percent to 6,268.38. All constituent
stocks, including Saudi Advanced Industries Co, Kingdom Holding Co., Saudi
Tadawul Group Holding Co., Sinad Holding Co.and Nayifat Finance Co., ended
Food and Beverages Index and Utilities Index
dropped 0.62 percent to close at 4,904.33 and 7,456.54, respectively. While the
worst-performing stock in the food and beverages sector was Almarai, the utility
sector buckled under the weight of Saudi Electric Co, which fell 1.20 percent to
close at SR23.06.
On the announcements front, Al Masane Al Kobra
Mining Co. informed the stock exchange on Sunday that the Ministry of Industry
and Mineral Resources issued on Jan. 18 issued it a new exploration license to
prospect for gold.
The license is valid until Nov. 24, 2027, and
covers an area of 34 square kilometers in the Asir region, according to a
statement to Tadawul. The license is also in line with the new Mining Investment
Law and its executive regulations. AMAK’s share price rose 0.9 percent to
Aldrees Petroleum and Transport Services Co. told
Tadawul that its board of directors recommended on Jan. 22 a 20 percent cash
dividend, or SR2 per share, for 2022, doling out a total dividend of SR150
Aldrees’ share price picked up 0.13 percent to
ACWA Power Co. also communicated to the stock
exchange that Jazan Integrated Gasification and Power Co. completed the
acquisition of the second group of assets for the Jazan Integrated Gasification
Combined Cycle project.
The utility major said the project involves the
acquisition of the $12 billion IGCC plant from Saudi Arabian Oil Co. The first
group of IGCC assets was acquired on Oct. 27, 2021. ACWA Power’s share price
fell 0.49 percent to SR161.
National Medical Care Co. also inked a share
purchase agreement with SmartMed Co. to purchase 100 percent of Jiwar Medical
Services Co. for SR65 million.
The acquisition deal will be financed through the
healthcare provider’s internal sources and credit facilities, according to a
statement to Tadawul. The company’s share price surged 1.54 percent to SR79.20.