Closing Bell: TASI climbs 62.19 points as trade volume hits $2bn

RIYADH/SA

Saudi Arabia’s Tadawul All Share Index closed at 12,024.91 on Monday, gaining 62.19 points, or 0.52 percent.

The parallel market, Nomu, also surged 469.05 points, or 1.86 percent, to conclude the day at 25,650.52. Additionally, the MSCI Tadawul 30 Index increased 7.72 points, or 0.50 percent, to finish at 1,561.24.
The main index posted a trading value of SR8.12 billion ($2.16 billion), with 175 stocks advancing and 44 declining. On the other hand, Nomu reported a trading volume of SR17.5 million.

Al-Jouf Agricultural Development Co. was the top performer on the main index as its share price surged 8.69 percent to SR53.8.

Al-Baha Investment and Development Co. also jumped 7.14 percent to SR0.15.

Riyadh Cables Group Co. also performed well, climbing 6.49 percent to SR111.6.

National Gas and Industrialization Co. and Al Gassim Investment Holding Co. increased 6.08 and 5.55 percent to SR71.50 and SR18.64, respectively.

Conversely, Ayyan Investment Co. recorded the most significant dip, declining 4.92 percent to SR17.38.

Etihad Atheeb Telecommunication Co. and Ades Holding Co. also experienced a fall, with their shares dropping to SR175.4 and SR19.22, reflecting declines of 3.84 and 3.61 percent, respectively.

Saudi Pharmaceutical Industries and Medical Appliances Corp. and National Agricultural Development Co. also reported significant losses in their share prices.

Nomu’s top performer was Jahez International Co. for Information System Technology, which saw a 10.86 percent jump to SR33.7.

Amwaj International Co. and Edarat Communication and Information Technology Co. also recorded notable gains, with their shares closing at SR57 and SR418, marking an increase of 4.78 and 4.50 percent, respectively.

Gas Arabian Services Co. and Advance International Co. for Communication and Information Technology also fared well.

In Nomu, Paper Home Co. was the worst performer, declining by 8.43 percent to SR180.20.

On an announcement front, Banque Saudi Fransi has revealed its annual financial results of 2023. The bank’s net profit increased 17.58 percent to SR4.7 billion compared to SR4 billion in 2022.

The bank, as stated on Tadawul, reported a growth in net income primarily attributed to a 16.3 percent increase in total operating income, partially mitigated by a 15.02 percent rise in total operating expenses.

 

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