Arab News, Thu, Jun 06, 2024 | Dhu al-Qadah 29, 1445
Closing bell: Saudi main index slips to close at 11,553
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 58.87
points, or 0.51 percent, to close at 11,553.16.
The total trading turnover of the benchmark index
was SR8.05 billion ($2.14 billion) as 52 of the stocks advanced, while 163
retreated.
Similarly, the Kingdom’s parallel market Nomu
slipped 107.49 points, or 0.41 percent, to close at 25,925.53. This comes as 28
of the listed stocks advanced while 32 retreated.
Meanwhile, the MSCI Tadawul Index slipped 7.61
points, or 0.52 percent, to close at 1,445.81.
The best-performing stock of the day was Dr.
Soliman Abdel Kader Fakeeh Hospital Co. The company’s share price surged 10.09
percent to SR63.30.
Other top performers include Alkhorayef Water and
Power Technologies Co. and Ades Holding Co. as well as Taleem REIT Fund and Al
Jouf Cement Co.
The worst performer was Fawaz Abdulaziz Alhokair
Co., whose share price dropped by 5.30 percent to SR8.04.
Additional poor performers were Sustained
Infrastructure Holding Co., the Mediterranean and Gulf Insurance and Reinsurance
Co., as well as Saudi Cable Co. and Batic Investments and Logistics Co.
When it came to Nomu, the best-performing stock of
the day was Bena Steel Industries Co. The firm’s share price jumped 9.09 percent
to SR36.
Other top performers on Nomu include Riyadh Steel
Co. and Lana Medical Co. as well as Advance International Co. for Communication
and Information Technology and MOBI Industry Co.
On the other hand, the worst performer on Nomu
was Future Care Trading Co., whose share price slipped by 5.59 percent to
SR12.16.
Other firms to see drops were Arabian Plastic
Industrial Co. and Group Five Pipe Saudi Co. as well as National Building and
Marketing Co. and Mayar Holding Co.
On the announcements front, Bupa Arabia for
Cooperative Insurance Co. announced that it had received the final approval from
the Insurance Authority to sell its new insurance product “Bupa Arabia Network
Upgrade” in Saudi Arabia.
Moreover, Ladun Investment Co. has announced a
five-year rental contract with the Real Estate Development Fund in Riyadh, with
a total value of SR107 million.
According to a Tadawul statement, the deal is
expected to have a positive financial impact from 2024 until 2028.