RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 27.44 points or 0.22 percent to close at 12,253.54.
The total trading turnover of the benchmark index was SR6.43 billion ($1.71 billion), with 116 of the stocks climbing and 104 retreating.
The Kingdom’s parallel market, Nomu, declined by 0.53 percent to 25,309.05.
The MSCI Tadawul Index edged up by 0.38 percent to close at 1,533.79.
The best-performing stock on the main market was Al-Baha Investment and Development Co. The firm’s share price surged by 9.09 percent to SR0.24.
Other top performers were Middle East Specialized Cables Co. and CHUBB Arabia Cooperative Insurance Co., whose share prices soared by 7.79 percent and 7.69 percent, respectively.
The worst performing stock of the day was Salama Cooperative Insurance Co., as its share price declined by 3.55 percent to SR27.15.
Al Mohafaza Co. for Education and Ghida Alsultan for Fast Food Co. were the top performers in Nomu, with their share prices climbing by 11.16 percent and 10 percent, respectively.
On the announcements front, the Capital Market Authority said it has approved Lamasat Co.’s application for the registration and offering of 6 million shares representing 7.41 percent of the firm’s capital in the parallel market.
In another statement, CMA added that it approved Hedab Alkhaleej Trading Co.’s request to float 800,000 shares representing 10.67 percent of the company’s capital on Nomu.
The authority also added that it green lighted the request of Arabian Company for Agriculture and Industrial Investments to register and float nine million shares, representing 30 percent of the company’s share capital on the main market.
Almoosa Health also received a positive nod from the CMA to float 13.29 million shares on the Kingdom’s main index, which represents 30 percent of its share capital.
“The CMA’s approval on the application shall be valid for six months from the CMA Board resolution date. The approval shall be deemed canceled if the offering and listing of the company’s shares are not completed within this period,” said the authority on all the approvals it made.
