Arab News, Sat, Sep 30, 2023 | Rabi Al-Awwal 15, 1445
Closing bell: Saudi main index slips 21 points to 11,056
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index slipped on Thursday, losing 20.98
points, or 0.19 percent, to close at 11,055.96.
The total trading turnover of the benchmark index
was SR6.26 billion ($1.67 billion) as 98 of the listed stocks advanced, while
114 retreated.
The Kingdom’s parallel market Nomu rose 58.5
points, or 0.26 percent, to close at 22,690.31. This jump came as 32 of the
listed stocks advanced while 19 retreated.
Similarly, the MSCI Tadawul Index dropped 4.85
points, or 0.34 percent, to 1,415.67.
The best-performing stock of the day was Etihad
Atheeb Telecommunication Co. The company’s share price surged 9.97 percent to
SR128.
Other top performers include The Co. for
Cooperative Insurance and Saudi Pharmaceutical Industries and Medical Appliances
Corp., whose share prices soared 6.06 percent and 5.53 percent to SR126 and
SR35.30, respectively.
The worst performer was Sinad Holding Co. The
firm’s share price dropped 3.61 percent to SR11.74.
Others to see falls were Almunajem Foods Co. and
National Agricultural Development Co., whose share prices dropped 3.04 percent
and 2.76 percent to SR70.20 and SR47.50, respectively.
On the announcements front, International Human
Resources Co. has announced the approval of the board of directors to move to
the primary market.
According to a statement to Tadawul, the move to
the main market is subject to the approval of the Saudi Stock Exchange. It is
also conditional on fulfilling all requirements stipulated in the listing
rules.
On another note, Allianz SE notified Allianz Saudi
Fransi Cooperative Insurance Co. of its decision to sell all its shares in the
firm that it indirectly holds through its three subsidiaries.
Allianz Europe BV, Allianz France SA. and Allianz
MENA Holding represent 51 percent of the company’s share capital to Abu Dhabi
National Insurance Co.
A bourse filing revealed that the three
subsidiaries entered into a legally binding sale and purchase agreement with
ADNIC, in which the firm will acquire the sale shares at a total price of SR499
million.
Meanwhile, Saudi AZM for Communication and
Information Technology Co. has disclosed its annual financial results for the
period ending on June 30.
According to a bourse filing, the firm’s net
profit reached SR23.96 million, reflecting a 325.52 increase compared to the
SR19.09 million recorded in the previous year.