Arab News, Tue, Nov 21, 2023 | Jumada Al-Uola 6, 1445
Closing Bell: TASI dips slightly to 11,119 points, trading turnover touches $1.9bn
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index wrapped up Monday’s trading session at
11,118.94 points, witnessing a decline of 18.09 points or 0.16 percent.
Concurrently, the MSCI Tadawul 30 Index ended the
day at 1,442.87 points, dropping 4.06 points or 0.28 percent. However, the
parallel market Nomu increased by 179.94 points to 23,863.30, a 0.76 percent
growth.
By the close, TASI reported a trading turnover of
SR7.1 billion ($1.9 billion), with 124 stocks making gains and 87 witnessing
declines. Nomu, on the other hand, saw a trading turnover of SR16.1 million.
Naqi Water Co. emerged as TASI’s standout
performer, surging 9.91 percent to SR72.10.
Ades Holding Co. and Al-Omran Industrial Trading
Co. also posted significant gains, closing at SR22.80 and SR35.50, up by 8.57
percent and 7.58 percent, respectively.
On the announcement front, Saudi Arabia’s First
Milling Co. revealed its intention to purchase shares to boost its employee
incentive plans.
The company aims to buy a maximum of 300,000
shares to be allocated to its employee stock long-term incentive plan.
Its board’s proposal is set to be discussed at the
upcoming extraordinary general assembly meeting, the date of which will be
announced later.
According to a bourse filing, this move follows
the fulfillment of all solvency conditions as specified for listed joint stock
companies.
First Milling Co.’s stock price closed at SR69.60,
an increase of 3.11 percent.
Moreover, Tadawul announced the listing and
trading shares of Almujtama Alraida Medical Co. on Nomu.
The company manages a network of pharmacies
retailing medicines, pharmaceutical products and cosmetics. It also offers
medical equipment, instruments and supplies across Saudi Arabia.
Additionally, the enterprise boasts a portfolio of
157 pharmacies, comprising 125 operational outlets and 32 under construction.
These upcoming branches are slated to commence
operations within the next 12 months. The company has a strong presence in the
Kingdom, with a particular focus on the Western region.
Furthermore, Arabian Internet and Communications
Services Co., also known as Solutions by stc, received approval from the General
Authority for Competition for the acquisition of 40 percent of Devoteam Middle
East.