Closing Bell – TASI closes in green to reach 12,423 points

  • 4/1/2024
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RIYADH: Saudi Arabia’s Tadawul All Share Index concluded in green on Monday, gaining 21.45 points, or 0.17 percent, to close at 12,423.01. The total trading turnover of the benchmark index was SR7 billion ($1.8 billion) as 104 stocks advanced while 109 retreated. The Kingdom’s parallel market, Nomu, also grew by 151 points, or 0.58 percent, to close at 26,181.03. This comes as 30 stocks advanced while as many as 34 retreated. Conversely, the MSCI Tadawul Index dropped 4.92 points, or 0.31 percent, to close at 1,576.49. The best-performing stock of the day was Middle East Paper Co. The company’s share price surged 9.96 percent to SR44.7. Other top performers included National Co. for Learning and Education and ACWA Power Co., whose share prices soared by 9.89 percent and 7.03 percent to stand at SR144.40 and SR350, respectively. The worst performer was Middle East Healthcare Co., whose share price dropped by 10 percent to SR89.10. Other poor performers included Saudi Industrial Development Co. and Lumi Rental Co. On Nomu, Marble Design Co. was among the top performers with its stock growing by 8.11 percent to close at SR81.40. Shatirah House Restaurant Co. and Intelligent Oud Company for Trading followed suit, with their stocks growing by 6.95 percent and 6.77 percent to close at SR11.40 and SR51.50, respectively. On the announcement front, Dr. Soliman Abdul Kader Fakeeh Hospital Co. is gearing up for a significant move in the market. The Capital Market Authority has officially approved the organization’s application for the registration and offering of 49,800,000 shares, which represent 21.47 percent of the company’s share capital, according to a bourse filing. This strategic development is marked with a nod from the CMA board, as indicated in their resolution dated March 27.

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