Arab News, Monday, Sep 18, 2023 | Rabi Al-Awwal 3, 1445
Closing bell: Saudi main index slips to close at 11,104
Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 50.39 points,
or 0.45 percent, to close at 11,104.15.
The total trading turnover of the benchmark index
was SR4.04 billion ($1.07 billion) as 85 of the stocks advanced, while 129
On the other hand, the Kingdom’s parallel market,
Nomu, also slipped 16.60 points, or 0.07 percent, to close at 22,791.81. This
comes as 22 of the listed stocks advanced, while as many as 24 retreated.
Similarly, the MSCI Tadawul Index also dropped
6.71 points, or 0.47 percent, to close at 1,429.22.
Meanwhile, the Saudi exchange has made a
significant stride in advancing the Kingdom’s capital market by introducing the
new Tadawul Size Indices and the Initial Public Offering Index, effective
These indices, comprising the Tadawul Large Cap,
Tadawul Medium Cap, Tadawul Small Cap, and Tadawul IPO Index, reflect a
milestone in the market’s evolution.
The best-performing stock of the day was Fawaz
Abdulaziz Alhokair Co. The company’s share price surged 7.19 percent to
Other top performers include Al-Baha Investment
and Development Co. as well as Filing and Packing Materials Manufacturing Co.,
whose share prices soared by 6.67 percent and 6.28 percent, to stand at SR0.16
and SR51.60, respectively.
The worst performer was Riyadh Cables Group Co as
its share price dropped by 5.77 percent to SR66.90.
Other poor performers were Alujain Corp. as well
as Malath Cooperative Insurance Co., whose share prices dropped by 5.61 percent
and 3.49 percent to stand at SR45.45 and SR21.00, respectively.
Meanwhile, Jahez International Co. for Information
System Technology has made an announcement regarding the board of directors’
intention to recommend the purchase of its own shares to the extraordinary
As per a Tadawul statement, the proposed maximum
number of shares for repurchase is 293,770, with the intention of keeping them
as treasury shares. This decision is driven by the board of
directors’ observation that the market share price is currently below its fair
The filing on the stock exchange also revealed
that the acquisition of these shares will be financed through the company’s
internal resources or bank facilities.