Arab News, Thu, Jun 27, 2024 | Dhu al-Hijjah 21, 1445
Closing Bell: TASI ends in red, closes at 11,656 points
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index fell on Wednesday, losing 74.42 points,
or 0.63 percent, to close at 11,656.35.
The total trading turnover of the benchmark index
was SR5.46 billion ($1.46 billion) as 109 of the listed stocks advanced, while
117 retreated.
Similarly, the MSCI Tadawul Index decreased by
12.46 points, or 0.85 percent, to close at 1,458.50.
The Kingdom’s parallel market Nomu also dropped by
67.77 points, or 0.26 percent, to close at 26,355.33. This comes as 37 of the
listed stocks advanced while as many as 30 retreated.
The best-performing stock of the day was Miahona
Co., with its share price surging by 8.92 percent to SR24.90.
Other top performers include Rasan Information
Technology Co. and Gulf Insurance Group, whose share prices soared by 5.91
percent and 5.42 percent, to stand at SR60.90 and SR31.10 respectively.
In addition to this, top performers included Saudi
Reinsurance Co. and Al-Rajhi Co. for Cooperative Insurance.
The worst performer was ADES Holding Co., whose
share price dropped by 4.60 percent to SR20.32.
Other worst performers were ACWA Power Co. as well
as Ataa Educational Co., whose share prices dropped by 3.26 percent and 2.89
percent to stand at SR344.20 and SR60.40, respectively.
Another poor performer was Bank Albilad, with its
share price dropping by 2.40 percent to SR32.60.
In the parallel market, Nomu, Saudi Parts Center
Co. was the top gainer, with its share price surging by 8.73 percent to
SR59.80.
Other top gainers in the parallel market were
Munawla Cargo Co. and Abdulaziz and Mansour Ibrahim Albabtin Co., with their
share prices surging by 8.63 percent and 7.32 percent to reach SR151 and SR44,
respectively.
Yaqeen Capital Co. was the major loser on Nomu, as
its share price fell significantly by 19.37 percent to SR32.25.
Natural Gas Distribution Co. and Neft Alsharq Co.
for Chemical Industries were other major losers on Nomu. Their share prices
dropped by 7.65 percent and 3.88 percent, reaching SR45.25 and SR3.96,
respectively.
Other underperforming stocks include Saudi Lime
Industries Co. and Professional Medical Expertise Co.
On the announcement front, Saudi Tadawul Group
Holding Co. has signed a binding sale and purchase agreement with DME Holdings
Ltd. and its current shareholders – Eagle Commodities Ltd., New York Mercantile
Exchange Inc., and Tatweer Dubai LLC.
The Group invested SR107 million by acquiring a
32.6 percent stake in DME Holding Limited representing a combination of new and
existing shares.
Due to the planned transaction, Tadawul Group will
make an indirect investment in Dubai Mercantile Exchange Ltd., a subsidiary of
DME Holdings regulated by the Dubai Financial Services Authority.
Furthermore, the group will hold an equal position
as the largest shareholder in DME Holdings alongside CME.