Closing bell: Saudi benchmark index sheds 95 points to close at 11,420

  • 6/19/2023
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RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Monday, as it shed 95.19 points, or 0.83 percent, to close at 11,421.70. The upward movement of the Kingdom’s parallel equity market, Nomu, also came to an end after four days as it dipped 2.81 percent or 813.22 points, to close at 28,174.84. The MSCI Tadawul Index also dropped 0.71 percent to close at 1,508.36. The total trading turnover of the benchmark index was SR6.07 billion ($1.62 billion), as 32 stocks advanced, while 188 retracted. The top performer of the day was Al Mawarid Manpower Co. as its share price soared by 30 percent to SR83.20. Al-Baha Investment and Development Co. and ACWA Power Co. were the other top gainers whose share prices edged up by 5.11 percent and 4.34 percent, respectively. The worst-performing stock was Sadr Logistics Co. as its share price dropped by 9.94 percent to SR4.44. In the parallel market, Amwaj International Co. became the top gainer as it rose by 10.28 percent to close at SR118.20. The worst performer in Nomu was Banan Real Estate Co. The firm’s share prices dropped by 13.47 percent to SR7. On the announcements front, Arabia Insurance Cooperative Co. revealed that it recorded a net profit of SR11.56 million before zakat, compared to a net loss of SR9.28 million in the same quarter of the previous year. Meanwhile, Tadawul announced that Morabaha Marina Financing Co. will start its trading in the main market on June 21. According to a Tadawul statement, the upper and lower limits of the daily and static fluctuation of the company’s shares would be 30 percent and 10 percent, respectively. AME Co. for Medical Supplies announced that its shareholders approved a 20 percent cash dividend, or SR2 per share, for 2022. In 2022, the company reported a net profit of SR26.7 million, up 26 percent compared to 2021.

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