Closing Bell: Saudi main market closes in green with 10,981 points

Arab News

4 days ago

RIYADH: Saudi Arabia's Tadawul All Share Index closed higher on Monday, rising 16.46 points, or 0.15 percent, to end the session at 10,981.17.
The total trading value on the main market reached SR4.3 billion ($1.1 billion), with 95 stocks advancing and 148 declining.
The MSCI Tadawul 30 Index also rallied, adding 3.86 points, or 0.27 percent, to finish at 1,408.88.
The Kingdom's parallel market Nomu slipped 82.58 points, or 0.30 percent, to close at 27,080.02. Of the listed stocks, 38 gained while 44 fell.
The best-performing stock on the main market was SHL Finance Co., whose shares jumped 10 percent to SR23.87.
Other notable gainers included Salama Cooperative Insurance Co., up 5.58 percent to SR13.62, Miahona Co. Limited, which gained 5.23 percent to SR26.94, Alamar Foods Co., rising 5.17 percent to SR53.95, and Fawaz Abdulaziz Alhokair Co., which climbed 4.92 percent to SR31.16.
On the downside, Sahara International Petrochemical Co. posted the steepest drop of the day, falling 5.69 percent to SR17.90.
Saudi Azm for Communication and Information Technology Co. declined 5.42 percent to SR 28.60, Alistithmar AREIC Diversified REIT Fund slipped 4.92 percent to SR 8.70, Wafrah for Industry and Development Co. fell 4.63 percent to SR27.20, and Riyadh Cables Group Co. dropped 4.13 percent to SR130.
On the announcement front, Sports Clubs Co. is set to make its trading debut on Saudi Arabia's main market on July 22.
The listing follows an initial public offering in which Sports Clubs floated 34.32 million shares, representing 33 percent of its issued capital, at a nominal value of SR1 each.
Demand saw the individual tranche oversubscribed by 5.3 times, with investors guaranteed a minimum allotment of ten shares.
To help stabilize the share price in early trading, the bourse has set a plus or minus 30 percent daily price limit and a 10 percent static limit.
Founded in 1994, Sports Clubs operates a network of 56 branches across 18 Saudi cities.
Its portfolio includes 41 Body Masters men's gyms, a brand established decades ago, and 15 Body Motions women's clubs, introduced four years ago as part of the company's gender-segmented expansion strategy.