Saudi Arabia’s Tadawul All Share Index saw a modest increase on Tuesday, rising by 18.29 points (0.15%) to close at 11,885.66. The trading turnover reached SR5.71 billion ($1.52 billion), with 131 stocks advancing and 97 declining.
In contrast, the Nomu parallel market dropped 117.01 points to end at 25,616.92, while the MSCI Tadawul Index gained 3.47 points, closing at 1,480.13.
Leading the main index was Naseej International Trading Co., which saw its shares jump 9.57% to SR71. Saudi Arabian Mining Co. (Ma’aden) also performed well, with a 6.61% increase to SR41.95, following a non-binding agreement with Aluminium Bahrain B.S.C. (Alba) to explore global aluminum production.
However, Al-Baha Investment and Development Co. was the worst performer, with shares falling 5.56% to SR0.17.
In the parallel market, Al-Modawat Specialized Medical Co. led gains, with a 9.89% rise to SR16. Molan Steel Co. and Academy of Learning Co. also performed well, with increases of 5.79% and 3.69%, respectively.
The Capital Market Authority (CMA) approved its first exchange-traded fund (ETF) tracking Hong Kong equities, enhancing ties between Beijing and Riyadh. The CMA approved AlBilad Investment Co.’s request to list the “Albilad CSOP MSCI Hong Kong China Equity ETF” on the Saudi Stock Exchange. This follows Hong Kong’s launch of an ETF tracking the Saudi index in November 2023.
Additionally, the Saudi Investment Bank (SAIB) announced plans for a US dollar-denominated Tier I sukuk program, capped at $1.5 billion, to meet its financial and strategic goals, pending regulatory approval.