RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 32.31 points, or 0.29 percent, to close at 11,154.54.
The total trading turnover of the benchmark index was SR7.38 billion ($1.96 billion) as 91 of the listed stocks advanced, while 131 retreated.
The Kingdom’s parallel market Nomu also rose 295.44 points, or 1.31 percent, to close at 22,808.41. This comes as 36 of the listed stocks advanced, while as many as 11 retreated.
Similarly, the MSCI Tadawul Index also dropped 2.35 points, or 0.16 percent, to close at 1,435.93.
The best-performing stock of the day was Aldawaa Medical Services Co. whose share price surged 7.55 percent to SR94.
Other top performers include Saudi Arabia Refineries Co. as well as United Electronics Co., whose share prices soared by 5.99 percent and 4.79 percent, to stand at SR95.50 and SR76.50 respectively.
The worst performer was Saudi Arabian Amiantit Co. as its share price dropped by 9.02 percent to SR47.40.
Other worst performers were the Mediterranean and Gulf Insurance and Reinsurance Co. as well as Thimar Development Holding Co., whose share prices dropped by 6.90 percent and 6.38 percent to stand at SR13.76 and SR27.15, respectively.
On the announcements front, Sumou Real Estate Co. said it signed a memorandum of understanding with Emaar, The Economic City to discuss ways of joint cooperation and study the available opportunities to develop lands in the city,
According to a Tadawul statement, the two parties will also work hand in hand in an attempt to find new innovative ways to finance these projects.
Meanwhile, Al Sagr Cooperative Insurance Co. has announced the board’s recommendation to increase the capital by offering right issues by SR160 million to make the new capital SR300 million.
A bourse filing revealed that the reason for the increase is to comply with the minimum capital requirements for insurance companies while supporting the firm’s future plans as well as the solvency margin.
In addition to this, Lin Al Khair Trading Co. has announced that the company has obtained a license from the Ministry of Industry and Mineral Resources for the manufacture of food products.
Meanwhile, Saudi Arabian Amiantit Co. has announced that the board of directors issued a decision to recommend to the extraordinary General Assembly to increase the firm’s capital to SR 346.5 million by offering rights issue.
Source: Arab News