Saudi Arabia’s Tadawul All Share Index rose yesterday, gaining 139.62 points or 1.15 per cent, closing at 12,285.07.
The total trading turnover of the benchmark index was 9.39 billion Saudi riyals ($2.51bn) as 152 listed stocks advanced, while 62 retreated.
On the other hand, the kingdom’s parallel market Nomu slipped 136.28 points or 0.55pc, closing at 24,557.64. This comes as 28 of the listed stocks advanced, with 34 retreating.
Meanwhile, the MSCI Tadawul Index rose 19.82 points or 1.25pc, closing at 1,599.26.
The best-performing stock of the day was Saudi Research and Media Group. The company’s share price surged 10pc to 204.60 riyals.
Other top performers included Saudi Reinsurance Company and Arab Sea Information System Company.
The worst performer was Walaa Co-operative Insurance Company, whose share price dropped by 3.25pc to 18.48 riyals.
Other poor performers were Filing and Packing Materials Manufacturing Company and Aldrees Petroleum and Transport Services Company.
On the announcements front, the Saudi Exchange Company launched the TASI50 Index yesterday.
According to a Tadawul statement, the TASI50 is an index tracking the top 50 firms ranked by total market capitalisation listed on the Saudi exchange.
Constituents in the index cover 90pc of the free float market cap with a minimum annual traded value ratio of 5pc, guaranteeing a comprehensive representation of the largest companies in the market. It can be used as a benchmark for exchange-traded funds, futures, options, and other financial products.
Furthermore, Almasane Alkobra Mining Company announced the board of directors’ decision to distribute 57.48 million riyals in cash dividends to shareholders for the second half of the financial year 2023.
A bourse filing revealed that the total number of shares eligible for dividends amounted to 88.43m, with the dividend per share standing at 0.65 riyal.
In addition to this, the statement also revealed that the percentage of dividends to the share par value stood at 6.5pc.
Meanwhile, Aldukheil Financial Group, in its capacity as the financial adviser and bookrunner of Middle East Pharmaceutical Industries Company, announced the firm’s intention to offer 6m ordinary shares representing 30pc of the company’s shares and the listing of its shares on the main market.
According to a Tadawul statement, the firm obtained approval from the stock exchange to list its shares on the main market.
Moreover, the firm also received approval from the Capital Market Authority for the initial public offering of the firm’s shares on the main market as well.
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