RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 33.73 points, or 0.29 percent, to close at 11,730.77.
The total trading turnover of the benchmark index was SR7.09 billion ($1.89 billion) as 169 of the stocks advanced, while 54 retreated.
Similarly, the MSCI Tadawul Index gained 0.35 points, or 0.02 percent, to close at 1.470.96.
Meanwhile, the Kingdom’s parallel market Nomu lost 354.77 points, or 1.32 percent, to close at 26,423.10. This comes as 33 of the listed stocks advanced, while 26 retreated.
The best-performing stock of the day was Al-Rajhi Co. for Cooperative Insurance. The company’s share price surged 8.96 percent to SR180.
Other top performers include Bupa Arabia for Cooperative Insurance Co. as well as Sustained Infrastructure Holding Co., whose share prices rose 6.97 percent and 5.49 percent respectively.
The worst performer was Ades Holding Co., whose share price dropped by 2.83 percent to SR21.3.
Other fallers were Miahona Co. as well as Saudi Manpower Solutions Co. and Qassim Cement Co, whose shares declined 2.56 percent and 2.4 percent respectively.
On the announcements front, United International Transportation Co., known as Budget Saudi’s shareholders, approved raising capital by issuing new shares in order to fully acquire Al Jazira Equipment Co. Ltd., known as AutoWorld.
According to a Tadawul statement, the decision came during the extraordinary general meeting held on June 24.
Neft Alsharq for Chemical Industries began trading on the Nomu parallel market at SR3.6 per share and a total offering size of 5 million shares.
Furthermore, the Capital Market Authority, known as CMA, approved an application submitted by Arabian Mills Co. to float and list 15.39 million shares, or 30 percent of its capital, in an initial public offering on the main market.
The prospectus will be published ahead of the subscription start date, the market regulator said in a statement.
The CMA’s approval is valid for six months from the board’s resolution date, and will be deemed cancelled if the offering and listing of the company’s shares are not completed within this period, it added.
Source: Arab News
