Closing bell: Saudi Arabia’s benchmark index edges up to close at 11,281

Closing bell: Saudi Arabia’s benchmark index edges up to close at 11,281
Closing bell: Saudi Arabia’s benchmark index edges up to close at 11,281

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 55.68 points, or 0.50 percent, to close at 11,281.03.

The total trading turnover of the benchmark index was SR4.95 billion ($1.32 billion) as 156 stocks advanced, while 52 retreated.  

On the other hand, the Kingdom’s parallel market Nomu slipped 2.5 points, or 0.01 percent, to close at 23,946.56. This comes as 19 stocks advanced while as much as 10 retreated.

Meanwhile, the MSCI Tadawul Index rose 8.82 points, or 0.61 percent, to close at 1,448.38.

The best-performing stock of the day was Saudi Arabian Amiantit Co. The company’s share price surged 9.91 percent to SR48.80.

Other top performers included Naseej International Trading Co. and Maharah Human Resources Co.

The worst performer was Arabian Pipes Co., whose share price dropped by 2.02 percent to SR116.40.

Saudi Public Transport Co. and BinDawood Holding Co. also did not fare well in daily trading.

Revised classification

On the announcements front, in accordance with the revision made to the Global Industry Classification Standard, the Saudi Exchange updated the nomenclatures of three industry groups and reclassified some listed companies on both the main and parallel markets, effective Sunday. 

According to a Tadawul statement, the “retailing” industry group has been renamed “consumer discretionary distribution & retail.”

The “food & staples retailing” industry group will now be referred to as “consumer staples distribution & retail,” and the “diversified financials” industry group has been renamed to “financial services.”

As for the reclassifications on the main market, they include the transfer of Saudi Vitrified Clay Pipes Co. to the Materials sector -

Level 1 / Materials Industry Group - Level 2. 

Al-Hassan Ghazi Ibrahim Shaker Co. was transferred to the Industrials sector - Level 1 / Capital Goods Industry Group - Level 2.

Moreover, Sinad Holding Co. was transferred to the Consumer Staples sector - Level 1 / Food & Beverages Industry Group - Level 2, BATIC Investments and Logistics Co. to Capital Goods Industry Group - Level 2, and AMLAK International Finance Co. to Financial Services Industry Group - Level 2.

Lastly, SHL Finance Co. was transferred to the Financial Services Industry Group - Level 2.

When it comes to the parallel market, MOBI Industry Co. was transferred to the Consumer Staples sector - Level 1 / Household & Personal Products - Industry Group Level 2.

While Al-RAZI Medical Co. was transferred to the Health Care sector - Level 1 / Health Care Equipment & Services - Industry Group Level 2, Marble Design Co. was transferred to Materials sector - Level 1 / Materials - Level 2.

In addition to this, Advance International Co. for Communication and Information Technology was transferred to the Software & Services Industry Group - Level 2, JAHEZ International Co. for Information System Technology to the Consumer Services Industry Group - Level 2, and Abdulaziz and Mansour Ibrahim ALBABTIN to the Consumer Staples Distribution & Retail Industry Group - Level 2.

Lastly, on Nomu, LEEN ALKHAIR Trading Co. was transferred to the Food & Beverages Industry Group - Level 2. 8 and WAJA Co. to the Capital Goods Industry Group - Level 2.

Announcements

Following Alujain Corp.’s announcement regarding the purchase of shares from certain shareholders of its subsidiary National Petrochemical Industrial Co., the firm disclosed to shareholders that the deal had been completed to purchase shares from certain shareholders of the National Petrochemical Industrial Co.

A bourse filing revealed that this comes after completing the share swap process and transferring the cash consideration.

The acquisition increased Alujain’s ownership in NATPET from 88.59 percent to 97.55 percent. 

Another top announcement was that of Alkhorayef Water and Power Technologies Co. The firm announced the signing of the long-term operation and maintenance contract for Sewage Treatment Plant Package 6 in Riyadh City with National Water Co. for the duration of 15 years.

According to a Tadawul statement, Alkhorayef Water and Power Technologies Co. will perform design, rehabilitation works, testing and commissioning, among other activities of the existing four sewage treatment plants in Heet and Al-Hayer. 

Meanwhile, Albilad Capital has announced the rebalancing of the sukuk basket for Albilad Saudi Sovereign Sukuk ETF to be in line with the index. 

A bourse filing revealed that the fund rebalancing process had been carried out on Dec.7.

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