Arab Press

بالشعب و للشعب
Friday, Mar 29, 2024

Closing Bell: Saudi bourse edges up 31 points to close at 10,578 

Closing Bell: Saudi bourse edges up 31 points to close at 10,578 

Saudi Arabia’s Tadawul All Share Index inched up 31.67 points — or 0.30 percent — on Monday to close at 10,578.34, picking up from Sunday’s 68 points increase. 
The total trading turnover of the benchmark index on Monday rose to SR3.67 billion ($980 million) from Sunday’s SR2.3 billion. The advance-decline ratio endorsed the market sentiment as 176 stocks of the listed 223 moved further while 36 lagged. 

The slight pickup in the trading turnover is encouraging, especially after the International Monetary Fund managing director Kristalina Georgieva on Sunday warned that a third of the world would fall into recession in 2023.  

The turnover remained subdued in 2022 as the oil-led economic slowdown dampened investor sentiments. The total volume of shares traded last year declined by 35 percent to 43.5 billion shares compared to 66.9 billion in 2021. 

According to data compiled by Kuwait-based Kamco Invest, the total value traded during the year also declined by 23.8 percent to reach SR1.7 trillion compared to SR2.23 trillion in 2021. 

The sectoral pulse on Monday also gathered some sheen, as 18 of the 21 indices booked gains. The topmost gainer was the Capital Goods Index which advanced 173 points to close at 5,525.46. Its constituent Riyadh Cables upped 7.13 percent to close at SR39.80. 

Parallel market Nomu and MSCI Tadawul also rose 1.28 percent and 0.1 percent to close at 19,434.51 and 1,473.12, respectively. 

Stock markets in the Gulf Cooperation Council region on Jan. 2 moved cautiously as four of the six indices tanked while Qatar and Abu Dhabi progressed by 1.44 percent and 0.41 percent, respectively. 

On the announcements front, Saudi Cable Co. informed that it had scrapped its earlier capital reduction plans and planned to increase its capital to SR346.73 million through an SR280 million rights issue.  

The company pointed out that this amendment was based on many discussions with financial advisers. The board withdrew its previous recommendation to reduce capital, as it negotiated with several investors to purchase part of its debt, which will be converted into ordinary shares at nominal value.  

Ataa Educational Co. also informed that it signed a lease contract for an educational complex in the Sulaymaniyah district in Riyadh with Tatweer Buildings Co. for SR118.03 million. 

The integrated educational complex spans an area of 13,940 square meters, with an annual rental value of SR4 million, the company said in a statement on Tadawul. The share price of the company closed marginally lower at SR53.70. 

Meanwhile, Halwani Bros. Co. signed on Jan. 1 a Shariah-compliant credit facility agreement at SR120 million with the Gulf International Bank, according to a statement to Tadawul. 

The credit facility included a sum of SR100 million to finance the working capital, extending for one year and renewable on an annual basis, and a sum of SR20 million to fund treasury products which will extend for five years. The share price of the company climbed 2.91 percent to close at SR46. 

Real estate developer Cenomi Centers Co.’s board of directors also declared a 7.5 percent cash dividend or SR0.75 per share for the six months ended Sept. 30, 2022, totaling SR356.25 million. The company’s share price soared 4.31 percent to SR19.86. 
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
PM Modi Announces Opening Of New CBSE Office In Dubai
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Facebook and Instagram Ban Iran's Supreme Leader
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
The Saudi Kingdom's Ultimatum to Israel: A Win-Win Peace with Saudi Arabia and the Arab World, or a Lose-Lose Continued Occupation and Endless Conflict
Biden condemns anti-Arab hate after WSJ opinion piece calls Dearborn ‘jihad capital’
Turkey Releases Seven Hostages Captured by Pro-Gaza Gunman
Arab Parliament Commends Women's Contributions to Societal Development
British and Hungarian Foreign Ministers visited Lebanese leaders to stress the importance of enacting UN Resolution 1701
Yemen's Houthis Say They Targeted British Merchant Vessel In Red Sea
Donald Trump Nominated for Nobel Peace Prize for 'Historic' Middle East Policy
US lawmakers approve F-16 jet sale to Turkey following NATO expansion support
Saudi Arabia Climbs 25 Places in World Bank's National Statistics Indicator
Tourism Growth in Saudi Arabia Fuels Advancements in the Hospitality Industry," Says Rotana Official
Houthi Rebels Request Departure of UN Staff from Yemen, Including US and UK Personnel, within a Month
Modi Inaugurates Hindu Temple on Site of Demolished Mosque in India
Over 25,000 Deaths in Gaza Amid Israeli Offensive
Escalating Clashes in Gaza as Israel Distributes Leaflets to Assist in Locating Hostages
Turkey's First Astronaut Set to Launch for International Space Station Today
Head of Palestinian Investment Fund Warns More People May Die of Hunger Than War in Gaza
Palestinian Envoy Criticizes UK for Alleged 'Double Standards' in Policies Toward Israel
Morocco to Lead UN Human Rights Council in 2024
Is artificial intelligence the solution to cyber security threats?
Egypt has been identified as the leading military force among Arab nations and ranks 15th globally
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Iranian Nobel Laureate Narges Mohammadi Receives Additional Prison Sentence
"Gazans Urge Israeli Forces to Target Hamas in Leaked Audio"
Biden States US and UK Airstrikes on Houthis Were a 'Defensive Action
Large Pro-Palestine Rally in London as Gaza Conflict Hits Day 100
South Africa Urges World Court to Halt Israeli Actions in Gaza
×