Closing bell: Saudi main index sheds 45 points to close at 12,078

  • 1/16/2024
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RIYADH: Saudi Arabia’s Tadawul All Share Index shed 44.53 points or 0.37 percent on Tuesday to close at 12,077.58. The main index posted a trading value of SR9.03 billion ($2.41 billion), with 100 stocks advancing and 119 declining. The MSCI Tadawul Index also went down by 0.68 percent to 1,568.10. However, the Kingdom’s parallel marketm Nomu, gained 76.02 points to close the day’s trading at 24,755.13. The best-performing stock on the main index was Gulf Insurance Group. The company’s share price soared by 9.87 percent to SR30.05. Other top gainers were media giant MBC Group Co. and Middle East Healthcare Co., whose share prices surged by 9.84 percent and 8.07 percent, respectively. The worst performer of the day was Ataa Educational Co., as its share price slipped by 4.36 percent to SR74.60. The positive performance of Nomu was driven by Naba Alsaha Medical Services Co., whose share price soared by 10.56 percent to SR62.80. Another top performer on the parallel market was Ladun Investment Co. The firm’s share price edged up by 7.54 percent to SR6.56. On Tuesday, the worst performers on Nomu were Horizon Food Co. and National Building and Marketing Co., whose share prices slipped by 13.33 percent and 8.21 percent, respectively. On the announcements front, Middle East Healthcare Co., also known as Saudi German Health, announced plans to issue riyal-denominated sukuk and offer them to the public. According to a Tadawul statement, the offering size will be determined later and is subject to market conditions. On Tuesday, the Saudi exchange halted the trading of Alujain Corp. shares upon receiving a request from the company. In a statement, Tadawul said the stock was stopped in line with the listing and suspension of listed securities rules. Trading of Alujain shares is expected to resume on Jan. 17.

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