Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 62.40 points, or 0.57 percent, to close at 11,104.42. The total trading turnover of the benchmark index was SR4.28 billion ($1.13 billion), as 199 of the stocks advanced and 62 retreated.
Similarly, the Kingdom’s parallel market Nomu gained 66 points, or 0.29 percent, to close at 23,041.37. This comes as 37 of the stocks advanced while 34 retreated.
The MSCI Tadawul Index gained 10 points, or 0.68 percent, to close at 1,481.35.
The best-performing stock of the day was Saudi Industrial Development Co., whose share price surged 8.40 percent to SR17.29. Other top performers included CHUBB Arabia Cooperative Insurance Co., whose share price rose 8.15 percent to SR20.69, as well as Gulf General Cooperative Insurance Co., whose share price surged 7.65 percent to SR4.22.
Kingdom Holding Co. recorded the most significant drop, falling 6.38 percent to SR13.50. Saudi Aramco Base Oil Co. saw its stock prices fall 5.38 percent to SR123.00. Alramz Real Estate Co. also saw its stock prices decline 3.69 percent to SR57.45.
On the announcement front, SAL Saudi Logistics Services Co. has announced the establishment of SAL International Ground Handling B.V., as a wholly owned subsidiary incorporated in Amsterdam, Netherlands. According to a Tadawul statement, the subsidiary will serve as an international holding company to support SAL’s strategy of expanding its cargo ground handling operations beyond Saudi Arabia. While the establishment of the new entity is not expected to have an immediate material financial impact, the company said it anticipates a positive contribution to its consolidated financial results over the longer term and will disclose any material developments in line with regulatory requirements. SAL Saudi Logistics Services Co. ended the session at SR173.00, up 1.91 percent.
Saudi Pharmaceutical Industries and Medical Appliances Co. has announced the signing of a nine-month agreement with the Saudi National Bank worth SR350 million to renew and increase credit facilities. A bourse filing revealed that the short-term financing limit has been increased from SR200 million previously. Saudi Pharmaceutical Industries and Medical Appliances Co. ended the session at SR28.06, up 3.58 percent.
