Closing Bell: Saudi main index rises to end at 11,022

Closing Bell: Saudi main index rises to end at 11,022
Closing Bell: Saudi main index rises to end at 11,022

Thank you for reading the news about Closing Bell: Saudi main index rises to end at 11,022 and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 165.79 points, or 1.53 percent, to close at 11,022.89.

The total trading turnover of the benchmark index was SR6.96 billion ($1.85 billion) as 182 of the listed stocks advanced, while 40 retreated.  

Similarly, the Kingdom’s parallel market Nomu jumped 332.52 points, or 1.46 percent, to close at 23,129.38. This comes as 32 of the listed stocks advanced while as much as 24 retreated.

The MSCI Tadawul Index climbed 30.56 points, or 2.17 percent, to close at 1,436.63.

The best-performing stock of the day was Arab Sea Information Systems Co. The company’s share price surged 9.89 percent to SR5.89.

Other leading performers include Saudi Pharmaceutical Industries and Medical Appliances Corp. as well as Almunajem Foods Co., whose share prices soared by 6.03 percent and 5.92 percent to stand at SR30.75 and SR68, respectively.

Al Kathiri Holding Co. and Abdullah Saad Mohammed Abo Moati for Bookstores Co. also saw prices rises.

The biggest faller of the day was Etihad Atheeb Telecommunication Co., whose share price dropped by 9.94 percent to SR152.20.  

Others to see falls were Arabian Pipes Co. and Arabian Drilling Co., whose share prices dropped by 3.31 percent and 2.88 percent to stand at SR111 and SR182.20, respectively.

Americana Restaurants International PLC and Retal Urban Development Co. also saw their values decrease.

On the announcements front, the Saudi Exchange has confirmed the issuance of its resolution on approving Riyadh Cement Co.’s request to transfer from Nomu to the main market, with a capital of SR1.2 billion and 120 million shares.

According to a Tadawul statement, the firm’s shares will continue to be traded in the parallel market until the end of the period for publishing the transfer document, which is within three trading sessions following the announcement.

Meanwhile, Almunajem Foods Co. has announced the distribution of SR120 million in cash dividends to shareholders for the second half of 2023.

A bourse filing revealed that the total number of shares eligible for dividends amounted to 60 million, with the dividend per share at SR2.

In addition, the statement also revealed that the percentage of dividends to the share par value stood at 20 percent.

These were the details of the news Closing Bell: Saudi main index rises to end at 11,022 for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Egyptian merchandise exports reach $13bn in first 4 months of 2024 
NEXT Saudi Arabia, China discuss collaboration in urban development during Beijing meeting

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]