RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 23.39 points, or 0.20 percent, to close at 11,955.24.
The total trading turnover of the benchmark index was SR4.58 billion ($1.22 billion), as 158 of the stocks advanced and 70 retreated.
Similarly, the Kingdom’s parallel market Nomu gained 313.47 points, or 1.01 percent, to close at 31,215.27. This comes as 58 of the listed stocks advanced, while 29 retreated.
The MSCI Tadawul Index gained 2.47 points, or 0.17 percent, to close at 1,497.49.
The best-performing stock of the day was Al-Baha Investment and Development Co., whose share price surged 10 percent to SR0.33.
Other top performers included MBC Group Co., whose share price rose 5.31 percent to SR57.50 as well as Saudi Chemical Co., whose share price surged 4.9 percent to SR10.28.
Dr. Soliman Abdel Kader Fakeeh Hospital Co. recorded the biggest drop, falling 3.81 percent to SR68.20.
National Co. for Learning and Education also saw its stock prices falling 3.67 percent to SR230.80.
Meanwhile, Bawan Co. also saw its stock prices drop 2.92 percent to SR48.15.
On the announcement front, Jahez International Co. for Information System Technology said it will list and begin trading its shares on the main Saudi market next Tuesday following its transfer from the parallel market, Nomu.
Sure Global Tech Co. announced it has signed a project to renew service licenses and provide technical support for applications with a governmental entity. According to a Tadawul statement, the project’s value exceeds 9 percent of the company’s revenue for the fiscal year ending Dec. 31, inclusive of value-added tax.
The project involves developing and maintaining applications for the governmental entity, including licensing, maintenance, technical support, and system development. The contract spans 850 days and is expected to positively impact the company’s financial statements in 2025 and 2026.
Sure Global Tech Co. ended the session at SR87.50, down 1.14 percent.
The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co. announced it has received approval from the Insurance Authority to renew its license for insurance and reinsurance activities.
MEDGULF’s stock closed at SR21.10, up 0.95 percent.
Meanwhile, Yanbu Cement Co.’s Board of Directors approved the distribution of SR78.75 million in cash dividends to shareholders for the second half of 2024. A bourse filing revealed that 157.5 million shares are eligible for a dividend of SR0.5 per share, representing 5 percent of the share’s par value.
Yanbu Cement Co. closed at SR23.92, up 2.93 percent.
