Saudi Tadawul Index Closes Lower While Nomu Market Gains
Saudi Arabia’s main stock market, the Tadawul All Share Index, closed lower on Thursday, shedding 34.89 points or 0.30 percent to finish at 11,554.16. Despite the decline in the benchmark index, trading activity remained robust with a total turnover of SR6.38 billion ($1.70 billion). Market breadth was positive, with 146 stocks advancing against 104 declining. In contrast, the parallel market, Nomu, performed well, gaining 194.86 points to close at 23,275.62. The MSCI Tadawul Index also fell by 0.66 percent. Among individual stocks, Nice One Beauty Digital Marketing Co. was the top performer on the main market, rising 6.33 percent, followed by gains for Nofoth Food Products and the Power and Water Utility Company for Jubail and Yanbu. Conversely, Arabian Cement Co. saw its shares drop by 4.03 percent. In corporate news, Jarir Marketing Co. reported a 16.65 percent increase in first-quarter net profit to SR253.5 million, driven by strong smartphone sales, leading to a 2.77 percent rise in its share price. Additionally, Cherry Trading Co. announced a SR30.2 million vehicle leasing contract with the Saudi Food and Drug Authority.
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Saudi Tadawul Index Closes Lower While Nomu Market Gains
Saudi Arabia’s main stock market, the Tadawul All Share Index, closed lower on Thursday, shedding 34.89 points or 0.30 percent to finish at 11,554.16. Despite the decline in the benchmark index, trading activity remained robust with a total turnover of SR6.38 billion ($1.70 billion). Market breadth was positive, with 146 stocks advancing against 104 declining. In contrast, the parallel market, Nomu, performed well, gaining 194.86 points to close at 23,275.62. The MSCI Tadawul Index also fell by 0.66 percent. Among individual stocks, Nice One Beauty Digital Marketing Co. was the top performer on the main market, rising 6.33 percent, followed by gains for Nofoth Food Products and the Power and Water Utility Company for Jubail and Yanbu. Conversely, Arabian Cement Co. saw its shares drop by 4.03 percent. In corporate news, Jarir Marketing Co. reported a 16.65 percent increase in first-quarter net profit to SR253.5 million, driven by strong smartphone sales, leading to a 2.77 percent rise in its share price. Additionally, Cherry Trading Co. announced a SR30.2 million vehicle leasing contract with the Saudi Food and Drug Authority.
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