Saudi Main Market Sheds 84 Points Amid Mixed Performance
The Tadawul All Share Index declines by 0.75 percent, while some stocks advance and others decline.
Riyadh: Saudi Arabia's benchmark stock market index, the Tadawul All Share Index (TASI), fell 83.68 points or 0.75 percent on Tuesday, closing at 11,006.97.
This decline was part of a broader performance across various indices within the Saudi market.The MT30 index, which represents the top 30 listed companies in terms of market capitalization, dropped 9.68 points or 0.66 percent, reaching a close of 1,466.15.
Meanwhile, the parallel market, known as Nomu, saw its index decrease by 80.77 points or 0.35 percent to finish at 22,726.20.Despite these declines in major indices, trading volume on the main board remained relatively robust, with over 285 million shares changing hands, valued at approximately SR5.06 billion ($1.35 billion).
The activity reflected a mixed performance across individual stocks, where gains were balanced against losses.Forty-four stocks advanced within this session, while 216 stocks experienced declines.
Notably, Consolidated Grunenfelder Saady Holding Co. led the gainers, surging by 6.47 percent to SR7.90.
This was followed closely by Al-Dawaa Medical Services Co., which saw its share price increase by 6.28 percent to reach SR49.74.Other notable gainers included Saudi Enaya Cooperative Insurance Co., which rose by 4.06 percent to SR11.54, Liva Insurance Co., up 3.9 percent to SR10.91, and Rabigh Refining and Petrochemical Co., which saw a rise of 2.67 percent to reach SR14.60.Conversely, Red Sea International Co.'s stock price experienced the largest decline among the losing stocks, dropping by 5.91 percent to settle at SR25.80.
Saudi Ground Services Co. also faced declines, down 4.56 percent to SR30.54.The market's regulatory body, the Capital Market Authority (CMA), made two significant announcements.
Firstly, it approved Miza Capital's licensure to conduct investment management and advising activities in the securities sector.
This move reflects that Miza Capital has fulfilled all the necessary requirements to begin operations effectively.In another development, the CMA sanctioned Blominvest Saudi Arabia Co.'s public offering of the Blominvest Saudi Equity Fund.
The authority emphasized that its approval signifies compliance with regulatory standards but does not constitute an endorsement for potential investors to subscribe to the fund.Additionally, in a separate decision, the Saudi Exchange lifted the trading suspension on Aldawaa Medical Services Co., which had been imposed due to non-disclosure of financial statements within the specified time frame.
Following the company's submission of its December 31 financial results on May 4, the suspension was lifted effective May 5, allowing for the resumption of normal trading activities in its shares.
This decline was part of a broader performance across various indices within the Saudi market.The MT30 index, which represents the top 30 listed companies in terms of market capitalization, dropped 9.68 points or 0.66 percent, reaching a close of 1,466.15.
Meanwhile, the parallel market, known as Nomu, saw its index decrease by 80.77 points or 0.35 percent to finish at 22,726.20.Despite these declines in major indices, trading volume on the main board remained relatively robust, with over 285 million shares changing hands, valued at approximately SR5.06 billion ($1.35 billion).
The activity reflected a mixed performance across individual stocks, where gains were balanced against losses.Forty-four stocks advanced within this session, while 216 stocks experienced declines.
Notably, Consolidated Grunenfelder Saady Holding Co. led the gainers, surging by 6.47 percent to SR7.90.
This was followed closely by Al-Dawaa Medical Services Co., which saw its share price increase by 6.28 percent to reach SR49.74.Other notable gainers included Saudi Enaya Cooperative Insurance Co., which rose by 4.06 percent to SR11.54, Liva Insurance Co., up 3.9 percent to SR10.91, and Rabigh Refining and Petrochemical Co., which saw a rise of 2.67 percent to reach SR14.60.Conversely, Red Sea International Co.'s stock price experienced the largest decline among the losing stocks, dropping by 5.91 percent to settle at SR25.80.
Saudi Ground Services Co. also faced declines, down 4.56 percent to SR30.54.The market's regulatory body, the Capital Market Authority (CMA), made two significant announcements.
Firstly, it approved Miza Capital's licensure to conduct investment management and advising activities in the securities sector.
This move reflects that Miza Capital has fulfilled all the necessary requirements to begin operations effectively.In another development, the CMA sanctioned Blominvest Saudi Arabia Co.'s public offering of the Blominvest Saudi Equity Fund.
The authority emphasized that its approval signifies compliance with regulatory standards but does not constitute an endorsement for potential investors to subscribe to the fund.Additionally, in a separate decision, the Saudi Exchange lifted the trading suspension on Aldawaa Medical Services Co., which had been imposed due to non-disclosure of financial statements within the specified time frame.
Following the company's submission of its December 31 financial results on May 4, the suspension was lifted effective May 5, allowing for the resumption of normal trading activities in its shares.
