Saudi Stock Market: Main Index Rises, Several Stocks Show Significant Gains
The Tadawul All Share Index gains 1.21 percent, while certain stocks see substantial increases.
Riyadh - The Saudi stock market saw an upswing on Sunday, with the main index, Tadawul All Share Index, rising by 134.37 points or 1.21 percent to close at 11,202.64.
This movement was reflected in the total trading turnover of SR5.08 billion ($1.35 billion), where 218 stocks advanced and 31 retreated.
The parallel market Nomu also experienced growth, increasing by 195.03 points or 0.72 percent to settle at 27,248.13, as 57 out of the listed stocks rose while 30 fell.
Furthermore, the MSCI Tadawul Index improved by 15.19 points or 1.07 percent to close at 1,434.07.
The day's highest gainer was Saudi Industrial Development Co., whose stock price surged 10 percent to SR30.14.
Other top performers included Naseej International Trading Co., with a 9.99 percent increase to SR96.00, and Fawaz Abdulaziz Alhokair Co. (Cenomi Retail), which saw its shares rise by 9.97 percent to SR22.39.
Notably, Cenomi Retail's stock had doubled in value over the past two months despite sell recommendations from research firms.
In contrast, Specialized Medical Co. suffered the largest decline, falling 1.88 percent to SR22.92.
Americana Restaurants International PLC - Foreign Co.'s stock price dropped by 1.26 percent to SR2.35, and Nahdi Medical Co.'s shares decreased by 1.24 percent to SR127.20.
Additionally, Etihad Atheeb Telecommunication Co. (GO Telecom) announced its annual financial results for the period ending March 31.
The company reported a net profit of SR223 million, representing a 14.36 percent increase compared to the previous year.
This growth was attributed to a revenue increase of SR446 million, offset by higher cost of revenue, expected credit losses on trade receivables, and increased general and administrative expenses.
However, financing costs decreased due to commission income recognition from Islamic deposits.
As a result, GO Telecom decided to distribute SR10.1 million in cash dividends to its shareholders, with each eligible share receiving 30 halals and a dividend percentage of 3 percent relative to the share par value.
The stock ended the session at SR105.00, up 2.49 percent.
Furthermore, the Saudi Exchange approved Saudi Azm for Communication and Information Technology Co.'s request to transfer from Nomu - Parallel market to the main market, with a capital of SR30 million and 60 million shares.
Obeikan Glass Co. also received approval to transfer from Nomu - Parallel market to the main market, with a capital of SR320 million and 32 million shares.
This movement was reflected in the total trading turnover of SR5.08 billion ($1.35 billion), where 218 stocks advanced and 31 retreated.
The parallel market Nomu also experienced growth, increasing by 195.03 points or 0.72 percent to settle at 27,248.13, as 57 out of the listed stocks rose while 30 fell.
Furthermore, the MSCI Tadawul Index improved by 15.19 points or 1.07 percent to close at 1,434.07.
The day's highest gainer was Saudi Industrial Development Co., whose stock price surged 10 percent to SR30.14.
Other top performers included Naseej International Trading Co., with a 9.99 percent increase to SR96.00, and Fawaz Abdulaziz Alhokair Co. (Cenomi Retail), which saw its shares rise by 9.97 percent to SR22.39.
Notably, Cenomi Retail's stock had doubled in value over the past two months despite sell recommendations from research firms.
In contrast, Specialized Medical Co. suffered the largest decline, falling 1.88 percent to SR22.92.
Americana Restaurants International PLC - Foreign Co.'s stock price dropped by 1.26 percent to SR2.35, and Nahdi Medical Co.'s shares decreased by 1.24 percent to SR127.20.
Additionally, Etihad Atheeb Telecommunication Co. (GO Telecom) announced its annual financial results for the period ending March 31.
The company reported a net profit of SR223 million, representing a 14.36 percent increase compared to the previous year.
This growth was attributed to a revenue increase of SR446 million, offset by higher cost of revenue, expected credit losses on trade receivables, and increased general and administrative expenses.
However, financing costs decreased due to commission income recognition from Islamic deposits.
As a result, GO Telecom decided to distribute SR10.1 million in cash dividends to its shareholders, with each eligible share receiving 30 halals and a dividend percentage of 3 percent relative to the share par value.
The stock ended the session at SR105.00, up 2.49 percent.
Furthermore, the Saudi Exchange approved Saudi Azm for Communication and Information Technology Co.'s request to transfer from Nomu - Parallel market to the main market, with a capital of SR30 million and 60 million shares.
Obeikan Glass Co. also received approval to transfer from Nomu - Parallel market to the main market, with a capital of SR320 million and 32 million shares.
