Arab News,
Tue, Sat, Nov 30, 2024 | Jumada al-Awwal 28, 1446
Closing Bell: Saudi main index rises to close at 11,641
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index gained
50.52 points, or 0.44 percent, closing at 11,641.31 on Thursday.
The total trading turnover of the benchmark index
was SR6.02 billion ($1.60 billion), with 134 stocks advancing and 85
retreating.
Similarly, the Kingdom’s parallel market Nomu rose
229.98 points, or 0.76 percent, to close at 30,394.70. Of the listed stocks, 44
advanced while 38 retreated.
The MSCI Tadawul Index increased by 8.37 points,
or 0.58 percent, to close at 1,460.35.
The best-performing stock of the day was Tamkeen
Human Resource Co., whose share price surged 18.00 percent to SR76.70.
Other top performers included Zamil Industrial
Investment Co., whose share price rose 8.70 percent to SR29.35, and Dr. Soliman
Abdel Kader Fakeeh Hospital Co., whose stock price increased 5.66 percent to
SR63.50.
Saudi Cable Co. recorded the biggest drop, falling
6.93 percent to SR84.60.
Saudi Enaya Cooperative Insurance Co. also saw its
share price fall 4.25 percent to SR13.08.
Meanwhile, Saudi Automotive Services Co. saw its
stock price drop 4.23 percent to SR68.00.
On the announcements front, Saudi Telecom Co.
revealed that it had received foreign investment authorization from the Spanish
Council of Ministers, allowing it to increase its voting rights from 4.97
percent to 9.97 percent and gain the right to appoint a board member at
Telefonica.
According to a Tadawul statement, the change in
stc ownership from 9.9 percent in the previous announcement to 9.97 percent
reflects Telefonica’s cancellation of shares in April. stc is currently
completing the necessary steps to finalize the increase in its voting rights,
which is expected to be completed in the coming period.
stc ended the session at SR39.95, with no change
in its share price.
Nofoth Food Products Co. announced the acquisition
of a mixed-use commercial and residential land in Riyadh’s Hittin neighborhood
for SR22 million, covering 1,580.37 sq. meters. This acquisition is part of the
company’s strategic plan to expand operations with new commercial offices and
develop its headquarters.
According to a bourse filing, the deal will be
financed through the company’s internal resources. The land acquisition will
increase the firm’s fixed assets and positively impact financial ratios such as
return on assets.
Nofoth Food Products Co. ended the session at
SR18.00, down 1.69 percent.