Arab News, Tue, Jul 02, 2024 | Dhu al-Hijjah 26, 1445
Closing Bell: Saudi main index closes in red; Nomu in green
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 20.97 points, or
0.18 percent, to close at 11,658.53.
The total trading turnover of the benchmark index
was SR7.32 billion ($1.95 billion), as 93 of the listed stocks advanced while
130 retreated.
Similarly, the MSCI Tadawul Index decreased by
4.14 points, or 0.28 percent, to close at 1,457.45.
However, the Kingdom’s parallel market Nomu
increased by 172.13 points or 0.66 percent, to close at 26,317.89. This comes as
31 of the listed stocks advanced while as many as 34 retreated.
The best-performing stock of the day was Saudi
Steel Pipe Co., which saw its share price surge by 9.97 percent to SR71.70.
Other top performers include Al Taiseer Group
Talco Industrial Co. and East Pipes Integrated Co. for Industry, whose share
prices soared by 8.85 percent and 7.21 percent, to stand at SR62.70 and SR172.60
respectively.
In addition to this, other top performers included
Arabian Pipes Co. and Middle East Specialized Cables Co.
The worst performer was SEDCO Capital REIT Fund,
whose share price dropped by 4.29 percent to SR7.36.
Other companies to see a fall were Mobile
Telecommunication Co. Saudi Arabia as well as Walaa Cooperative Insurance Co.,
whose share prices dropped by 4.07 percent and 3.46 percent to stand at SR11.32
and SR27.90, respectively.
Additional fallers included Saudi Real Estate Co.
and National Medical Care Co.
On the announcements front, the Capital Market
Authority Board has approved United International Holding Co.’s application for
the registration and offering of 7.5 million shares, representing 30 percent of
the company’s share capital.
In a statement on Tadawul, CMA explained that this
resolution, dated June 26, will allow the company to move forward with its
planned share offering.
The prospectus, which will be published well
before the subscription period begins, will provide investors with all the
necessary information, including the company’s financial statements, activities,
and management details, the statement added.
“A subscription decision without reading the
prospectus carefully or fully reviewing its content may involve high risk,” CMA
said, urging investors to carefully read the prospectus, which includes detailed
information on the company, the offering and risk factors.