Saudi Stock Market Closes Higher with Mixed Performance
Rising 16.46 points or 0.15 percent, the Tadawul All Share Index ends session at 10,981.17.
The Saudi stock market closed higher on Monday, with the main market's Tadawul All Share Index rising 16.46 points, representing a 0.15 percent increase to finish the trading day at 10,981.17.
The total value of trades on the main board amounted to SR4.3 billion ($1.1 billion), showing mixed performance among the listed companies.
Out of the 95 stocks that advanced, 148 experienced declines in their share prices.
The MSCI Tadawul 30 Index also saw a positive movement, increasing by 3.86 points or 0.27 percent to end at 1,408.88.
Meanwhile, the Kingdom's parallel market Nomu witnessed a decrease of 82.58 points, representing a drop of 0.30 percent to close at 27,080.02, with 38 stocks rising and 44 experiencing declines.
The best-performing stock on the main board was SHL Finance Co., whose shares surged by 10 percent to SR23.87.
Other notable gainers included Salama Cooperative Insurance Co., up 5.58 percent to SR13.62, Miahona Co. Limited, with a 5.23 percent rise to SR26.94, Alamar Foods Co., increasing 5.17 percent to SR53.95, and Fawaz Abdulaziz Alhokair Co., which saw its shares climb by 4.92 percent to SR31.16.
Conversely, Sahara International Petrochemical Co. experienced the largest decline of the day with a 5.69 percent drop to SR17.90.
Saudi Azm for Communication and Information Technology Co.'s stock fell by 5.42 percent to SR28.60, Alistithmar AREIC Diversified REIT Fund dropped 4.92 percent to SR8.70, Wafrah for Industry and Development Co.'s shares declined 4.63 percent to SR27.20, and Riyadh Cables Group Co. saw its stock price drop by 4.13 percent to SR130.
In terms of market activity, Sports Clubs Co. is set to begin trading on the Saudi main market on July 22 following a successful initial public offering.
During the IPO, which saw strong demand with investors guaranteed at least ten shares, the company floated 34.32 million shares representing 33 percent of its issued capital at SR1 per share.
The bourse has implemented a daily price limit of plus or minus 30 percent and a static limit of 10 percent to stabilize the share price in early trading.
Founded in 1994, Sports Clubs operates 56 branches across 18 Saudi cities, offering a range of fitness services through its Body Masters men’s gyms and Body Motions women’s clubs.
The total value of trades on the main board amounted to SR4.3 billion ($1.1 billion), showing mixed performance among the listed companies.
Out of the 95 stocks that advanced, 148 experienced declines in their share prices.
The MSCI Tadawul 30 Index also saw a positive movement, increasing by 3.86 points or 0.27 percent to end at 1,408.88.
Meanwhile, the Kingdom's parallel market Nomu witnessed a decrease of 82.58 points, representing a drop of 0.30 percent to close at 27,080.02, with 38 stocks rising and 44 experiencing declines.
The best-performing stock on the main board was SHL Finance Co., whose shares surged by 10 percent to SR23.87.
Other notable gainers included Salama Cooperative Insurance Co., up 5.58 percent to SR13.62, Miahona Co. Limited, with a 5.23 percent rise to SR26.94, Alamar Foods Co., increasing 5.17 percent to SR53.95, and Fawaz Abdulaziz Alhokair Co., which saw its shares climb by 4.92 percent to SR31.16.
Conversely, Sahara International Petrochemical Co. experienced the largest decline of the day with a 5.69 percent drop to SR17.90.
Saudi Azm for Communication and Information Technology Co.'s stock fell by 5.42 percent to SR28.60, Alistithmar AREIC Diversified REIT Fund dropped 4.92 percent to SR8.70, Wafrah for Industry and Development Co.'s shares declined 4.63 percent to SR27.20, and Riyadh Cables Group Co. saw its stock price drop by 4.13 percent to SR130.
In terms of market activity, Sports Clubs Co. is set to begin trading on the Saudi main market on July 22 following a successful initial public offering.
During the IPO, which saw strong demand with investors guaranteed at least ten shares, the company floated 34.32 million shares representing 33 percent of its issued capital at SR1 per share.
The bourse has implemented a daily price limit of plus or minus 30 percent and a static limit of 10 percent to stabilize the share price in early trading.
Founded in 1994, Sports Clubs operates 56 branches across 18 Saudi cities, offering a range of fitness services through its Body Masters men’s gyms and Body Motions women’s clubs.
