Saudi Stocks End Higher on Monday with TASI Rising 0.26% as Market Sees Increased Trading Volume
Closing Bell: Saudi stocks end higher on Monday as TASI rises 0.26%
Riyadh: The Saudi stock market closed with gains on Monday, with the Tadawul All Share Index (TASI) increasing by 0.26%, or 29.73 points, to finish at 11,345.46.
The trading volume reached SR5.5 billion ($1.4 billion), reflecting increased activity within the market.
Out of the total 248 listed companies, 132 experienced growth, while 116 reported declines.
Notably, the MSCI Tadawul 30 Index rose by 0.21% to reach 1,454.38, and the parallel market Nomu saw stronger performance, advancing 0.75% to close at 27,462.84.
Top performers in the market included Tourism Enterprise Co., which surged 9.64% to SR0.91, followed by Ayyan Investment Co. with a 4.28% increase to SR14.38 and Sumou Real Estate Co. gaining 4.18% to close at SR42.82.
Other notable gainers included Buruj Cooperative Insurance Co., advancing 4.11% to SR18.99, and Tamkeen Human Resources Co., climbing 3.71% to end at SR55.90.
Conversely, Miahona Co. recorded the steepest decline, falling 3.35% to SR25.98.
Umm Al-Qura Cement Co. dropped by 3.21% to SR16.59, and Saudi Kayan Petrochemical Co. slipped 2.31% to SR5.07.
Notable decliners also included Almarai Co., which decreased 2.05% to SR50.15, and Halwani Bros. Co. fell by 2.04% to SR45.20.
Additionally, Riyad Bank announced the commencement of an offer for its US dollar-denominated Tier 2 trust certificates through a special-purpose vehicle, targeting both domestic and international investors.
The offering will have a minimum subscription amount of $200,000 with increments above that threshold, and the certificates will have a maturity of 10 years, callable after five years.
The issuance terms are subject to market conditions.
Joint lead managers for the offer include DBS Bank, HSBC, J.P. Morgan Securities, Merrill Lynch, Mizuho, Riyad Capital, SMBC, Standard Chartered, and the certificates are expected to be listed on the London Stock Exchange's International Securities Market.
In separate news, Alinma Bank also announced its intention to issue US dollar-denominated certificates under its trust certificate issuance program, subject to regulatory approvals and compliance with applicable laws.
Joint lead managers for this offering include Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD, Goldman Sachs, J.P. Morgan, and Standard Chartered.
The terms of the offer will be determined based on market conditions.
Alinma Bank shares closed at SR27.20, down 0.87%.
The trading volume reached SR5.5 billion ($1.4 billion), reflecting increased activity within the market.
Out of the total 248 listed companies, 132 experienced growth, while 116 reported declines.
Notably, the MSCI Tadawul 30 Index rose by 0.21% to reach 1,454.38, and the parallel market Nomu saw stronger performance, advancing 0.75% to close at 27,462.84.
Top performers in the market included Tourism Enterprise Co., which surged 9.64% to SR0.91, followed by Ayyan Investment Co. with a 4.28% increase to SR14.38 and Sumou Real Estate Co. gaining 4.18% to close at SR42.82.
Other notable gainers included Buruj Cooperative Insurance Co., advancing 4.11% to SR18.99, and Tamkeen Human Resources Co., climbing 3.71% to end at SR55.90.
Conversely, Miahona Co. recorded the steepest decline, falling 3.35% to SR25.98.
Umm Al-Qura Cement Co. dropped by 3.21% to SR16.59, and Saudi Kayan Petrochemical Co. slipped 2.31% to SR5.07.
Notable decliners also included Almarai Co., which decreased 2.05% to SR50.15, and Halwani Bros. Co. fell by 2.04% to SR45.20.
Additionally, Riyad Bank announced the commencement of an offer for its US dollar-denominated Tier 2 trust certificates through a special-purpose vehicle, targeting both domestic and international investors.
The offering will have a minimum subscription amount of $200,000 with increments above that threshold, and the certificates will have a maturity of 10 years, callable after five years.
The issuance terms are subject to market conditions.
Joint lead managers for the offer include DBS Bank, HSBC, J.P. Morgan Securities, Merrill Lynch, Mizuho, Riyad Capital, SMBC, Standard Chartered, and the certificates are expected to be listed on the London Stock Exchange's International Securities Market.
In separate news, Alinma Bank also announced its intention to issue US dollar-denominated certificates under its trust certificate issuance program, subject to regulatory approvals and compliance with applicable laws.
Joint lead managers for this offering include Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD, Goldman Sachs, J.P. Morgan, and Standard Chartered.
The terms of the offer will be determined based on market conditions.
Alinma Bank shares closed at SR27.20, down 0.87%.
