RIYADH: Saudi Arabia’s stock market ended Tuesday’s session on a positive note, with the Tadawul All Share Index posting modest gains amid mixed performance across sectors.
The index rose by 19.46 points, or 0.17 percent, to close at 11,616.81. Trading turnover on the main market reached SR6.3 billion ($1.69 billion), with 105 stocks advancing and 136 declining, reflecting cautious optimism among investors.
The parallel market, Nomu, also saw upward movement, gaining 23.68 points, or 0.08 percent, to settle at 29,141.30. Meanwhile, the MSCI Tadawul Index recorded an increase of 4.84 points, or 0.33 percent, ending the day at 1,473.70.
Al Mawarid Manpower Co. led the gains on the main market, with its share price surging 9.97 percent to close at SR150. Strong performances were also recorded by Saudi Printing and Packaging Co., which rose 9.92 percent to SR11.08, and Saudi Research and Media Group, whose shares climbed 6.48 percent to SR184. Rasan Information Technology Co. advanced 6.33 percent, while Middle East Specialized Cables Co. closed 5.14 percent higher.
On the downside, Saudi Cable Co. posted the steepest loss of the session, with its share price falling 3.58 percent to SR124. Al Sagr Cooperative Insurance Co. declined 3.15 percent to SR14.78, followed by Sumou Real Estate Co., Raoom Trading Co., and Arabian Pipes Co., which recorded losses of 2.79 percent, 2.77 percent, and 2.70 percent, respectively.
On the announcements front, Multi Business Group Co., listed on the Nomu market, announced that it has secured a significant new project from the Saudi Fund for Development.
The contract, which exceeds 10 percent of the company’s annual revenue, involves comprehensive renovation work on the Fund’s main building, including architectural, fit-out, electrical, and mechanical upgrades.
The company confirmed that no related parties were involved in the deal. Following the announcement, Multi Business Group Co. shares rose 6.92 percent to close at SR19.78.
In a separate disclosure, the Saudi Exchange stated that the fluctuation limits for Bank Albilad on April 15 would be based on a share price of SR29.25.
This adjustment follows the bank’s extraordinary general meeting on April 14, during which shareholders approved a capital increase through the issuance of bonus shares. Consequently, all outstanding orders for Bank Albilad shares will be canceled, and the Securities Depository Center will deposit the additional shares into investor portfolios by April 17. Bank Albilad’s share price edged up 0.51 percent on Tuesday, closing at SR29.40
Source: www.arabnews.com