RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 56.18 points or 0.48 percent, to close at 11,796.84.
The total trading turnover of the benchmark index was SR5.42 billion ($1.44 billion), as 163 of the listed stocks advanced, while 62 retreated.
Saudi Arabia’s parallel market Nomu gained 80.82 points to close at 25,365.12. The MSCI Tadawul Index also edged up by 0.19 percent to 1,478.61.
The best-performing stock of the main index was CHUBB Arabia Cooperative Insurance Co. The firm’s share price surged by 10 percent to SR29.70.
Other top performers include Saudi Ground Services Co. and AYYAN Investment Co., whose share prices soared by 9.87 percent and 8.93 percent, respectively.
The worst performer of the day was Saudi Kayan Petrochemical Co., as its share price slipped by 2.65 percent to SR8.09.
The share prices of Saudi Industrial Export Co. and Nayifat Finance Co. also dropped by 2.48 percent and 2.46 percent, respectively.
The top gainer on the parallel market was MOBI Industry Co. with its share price surging by 11.24 percent to SR13.66.
Other best performers on Nomu were Alhasoob Co. and Alqemam for Computer Systems Co., whose share prices also increased by 10 percent and 9.57 percent, respectively.
In corporate announcements, Saudi Azm for Communication and Information Technology Co. disclosed it has been awarded a project from the Small and Medium Enterprises General Authority, also known as Monsha’at, to manage subsidized service vouchers and discount services. The project’s value exceeds 15 percent of the company’s total revenues for 2023.
Banque Saudi Franci announced the issuance of Saudi riyal-denominated additional Tier 1 sukuk under its SR8 billion Additional Tier 1 Capital Sukuk Program.
The sukuk, to be issued via a private placement in the Kingdom, will be determined based on market conditions. The issuance period runs from Aug. 13 to 26, with Saudi Fransi Capital serving as the sole book runner, lead arranger, and lead manager.
