On a day of varied fortunes, the Saudi Arabian stock exchange, known as the Tadawul All Share Index, reported a modest increase, climbing by 33.73 points, which is a 0.29 percent rise, to finalize at 11,730.77.
The benchmark index’s trading volume reached SR7.09 billion (approximately $1.89 billion), with 169 stocks observing upward movement and 54 experiencing a decline.
In a similar vein, the MSCI Tadawul Index witnessed a slight increment of 0.35 points, or 0.02 percent, concluding the day at 1,470.96.
Conversely, the nation’s secondary market, Nomu, faced a downturn, shedding 354.77 points, or 1.32 percent, ending at 26,423.10. In this market, 33 listed companies saw their stock value increase, while 26 witnessed a fall.
The standout performer of the trading session was Al-Rajhi Co. for Cooperative Insurance, whose shares soared by 8.96 percent, reaching SR180.
Other stocks that enjoyed significant gains included Bupa Arabia for Cooperative Insurance Co. and Sustained Infrastructure Holding Co., which saw their shares ascend by 6.97 percent and 5.49 percent, respectively.
On the other end of the spectrum, Ades Holding Co. found itself as the least successful for the day, with its shares dipping by 2.83 percent to SR21.3.
Joining the list of decliners were Miahona Co., Saudi Manpower Solutions Co., and Qassim Cement Co., with their shares falling by 2.56 percent and 2.4 percent, respectively.
In the realm of corporate announcements, shareholders of United International Transportation Co., also recognized as Budget Saudi, endorsed a capital increase through the issuance of new shares aimed at the full acquisition of Al Jazira Equipment Co. Ltd., or AutoWorld, as revealed during an extraordinary general meeting on June 24.
Neft Alsharq for Chemical Industries commenced its presence on the Nomu parallel market, trading at SR3.6 per share with a total of 5 million shares offered to the public.
Additionally, the Capital Market Authority (CMA) sanctioned a proposal by Arabian Mills Co. to introduce 15.39 million shares, accounting for 30 percent of its capital, for an initial public offering on the main market.
The market watchdog stated that the published prospectus will precede the commencement of the subscription period. The CMA also highlighted that its approval is contingent on a six-month validity period from the board’s decision date and will expire should the offering and listing not be realized within this timeframe.