RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 41.63 points, or 0.35 percent, to close at 12,023.03.
The total trading turnover of the benchmark index was SR8 billion ($2.13 billion), as 142 of the listed stocks advanced, while 81 retreated.
The MSCI Tadawul Index increased by 2.93 points, or 0.20 percent, to close at 1,492.19.
The Kingdom’s parallel market Nomu surged by 80.08 points, or 0.31 percent, to close at 25,792.09. This comes as 38 of the listed stocks advanced while as many as 29 retreated.
The best-performing stock of the day was Buruj Cooperative Insurance Co., with its share price surging 9.99 percent to SR22.02.
Other top performers included Red Sea International Co. and Al-Baha Investment and Development Co., with share prices rising by 9.97 percent to SR32 and 8.33 percent to SR0.13, respectively.
Saudi Reinsurance Co. and Ash-Sharqiyah Development Co. also recorded positive trajectories on Aug. 19.
The worst performer of the day was Riyadh Cement Co., with its share price falling by 4.30 percent to SR25.60.
The Company for Cooperative Insurance and Arabian Pipes Co. also saw significant declines, with their shares dropping by 2.01 percent and 1.70 percent to SR165.40 and SR139, respectively.
Other worst performers included Almarai Co. and Naseej International Trading Co.
On the announcement front, Thimar Development Holding Co. signed a non-binding memorandum of understanding on Aug. 18 with Madar Al Khair Trading Co. to acquire up to 50 percent of Madar Al Khair, which has over 50 years of experience in livestock trading, fresh meat, and related industries.
In a statement on Tadawul, Thimar Development Holding Co. said that this partnership aligns with its strategic goals and the Kingdom’s vision for food security.
Funding for the acquisition will be sourced from an upcoming capital increase and other financing options. The memorandum will become binding pending the completion of due diligence.
Thimar is focused on diversifying investments for high returns with low risks and will announce further developments as they arise.
