Saudi Stock Market Closes Lower with Tadawul Index Dipping to 12,415
The Tadawul All Share Index declines 0.19 percent as trading turnover reaches SR6.49 billion. Several stocks rise, while Jarir Marketing posts slight profit increase for 2024.
The Saudi Stock Exchange (Tadawul) closed on a negative note on Thursday, with the Tadawul All Share Index falling by 23.99 points, or 0.19 percent, to close at 12,415.49. The total trading turnover reached SR6.49 billion ($1.73 billion), with 139 stocks advancing and 89 declining.
Meanwhile, the MSCI Tadawul Index rose by 4.12 points, or 0.27 percent, to settle at 1,544.02. The parallel market, Nomu, saw a positive performance, gaining 201.99 points, or 0.65 percent, to close at 31,250.65, driven by 45 advancing stocks and 36 decliners.United Cooperative Assurance Co. led the day’s gainers, with its share price surging by 7.94 percent to SR10.20. Other notable performers included Saudi Steel Pipe Co., which rose by 7.33 percent to SR73.20, and Gulf General Cooperative Insurance Co., with a 5.91 percent increase to SR12.18.The biggest decliner was Bupa Arabia for Cooperative Insurance Co., which saw its share price drop by 4.12 percent to SR186.
CHUBB Arabia Cooperative Insurance Co. and The Mediterranean and Gulf Insurance and Reinsurance Co. followed, with declines of 3.59 percent and 3.17 percent, respectively.On the corporate front, Jarir Marketing Co. reported a slight increase in profits for 2024, totaling SR974 million, up from SR973 million in 2023. Operating profits grew 0.74 percent to SR1.05 billion, driven by higher sales in smartphones, computers, and tablets.
Shareholders’ equity declined to SR1.74 billion, from SR1.77 billion last year.
Despite the profit increase, Jarir Marketing’s stock traded 1.38 percent lower on the main market, closing at SR12.82.In other news, SNB Capital Co., acting as the lead manager, announced the launch of an initial public offering (IPO) by Entaj, a subsidiary of the Arabian Co. for Agricultural and Industrial Investment.
The IPO will offer 9 million ordinary shares, representing 30 percent of the company's total share capital.
Meanwhile, the MSCI Tadawul Index rose by 4.12 points, or 0.27 percent, to settle at 1,544.02. The parallel market, Nomu, saw a positive performance, gaining 201.99 points, or 0.65 percent, to close at 31,250.65, driven by 45 advancing stocks and 36 decliners.United Cooperative Assurance Co. led the day’s gainers, with its share price surging by 7.94 percent to SR10.20. Other notable performers included Saudi Steel Pipe Co., which rose by 7.33 percent to SR73.20, and Gulf General Cooperative Insurance Co., with a 5.91 percent increase to SR12.18.The biggest decliner was Bupa Arabia for Cooperative Insurance Co., which saw its share price drop by 4.12 percent to SR186.
CHUBB Arabia Cooperative Insurance Co. and The Mediterranean and Gulf Insurance and Reinsurance Co. followed, with declines of 3.59 percent and 3.17 percent, respectively.On the corporate front, Jarir Marketing Co. reported a slight increase in profits for 2024, totaling SR974 million, up from SR973 million in 2023. Operating profits grew 0.74 percent to SR1.05 billion, driven by higher sales in smartphones, computers, and tablets.
Shareholders’ equity declined to SR1.74 billion, from SR1.77 billion last year.
Despite the profit increase, Jarir Marketing’s stock traded 1.38 percent lower on the main market, closing at SR12.82.In other news, SNB Capital Co., acting as the lead manager, announced the launch of an initial public offering (IPO) by Entaj, a subsidiary of the Arabian Co. for Agricultural and Industrial Investment.
The IPO will offer 9 million ordinary shares, representing 30 percent of the company's total share capital.
