Saudi Arabia’s main index ends week in green as trading turnover hits $1.69bn

  • 8/17/2023
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RIYADH: After slipping for three consecutive days, Saudi Arabia’s Tadawul All Share Index rebounded on Thursday, as it gained 58.55 points, or 0.51 percent, to close at 1,451.31. The total trading turnover of the benchmark index was SR6.34 billion ($1.69 billion) as 72 stocks advanced, while 146 declined. The MSCI Tadawul Index also surged 0.62 percent to 1,481.65. However, Saudi Arabia’s parallel market Nomu shed 110.76 points to close at 23,201.77. Al-Baha Investment and Development Co. was the best-performing stock of the day, as its share price advanced 6.25 percent to SR0.17. Other top gainers were Saudi Paper Manufacturing Co. and Saudi Steel Pipe Co., whose share prices edged up by 4.84 percent and 3.83 percent, respectively. The worst-performing stock of the day was Americana Restaurants International. The company’s share price dipped 4.59 percent to SR4.16. Meanwhile, the share price of Naseej for Technology Co. soared to a 52-week high of SR216.80. However, the company closed the session at SR200.60, down 3.09 percent compared to the opening price of SR207. On the parallel market, Ghida Alsultan for Fast Food Co. emerged as the top gainer, as its share price soared 3.26 percent to SR76. Shatirah House Restaurant Co. also performed well. Its share price surged 3.23 percent to close at SR9.60. The worst performers on Nomu were Edarat Communication and Information Technology Co. and Naseej for Technology Co. whose share prices slipped by 9.96 percent and 7.25 percent, respectively. On the announcements front, Al Mawarid Manpower Co. said that its shareholders will decide on the board’s proposal to pay a cash dividend at 15 percent of capital during the ordinary general meeting scheduled on Sept. 13.

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