Closing Bell: Saudi main index rises to close at 11,068
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Thursday, gaining 94.29 points, or 0.86 percent, to close at 11,068.27.
The total trading turnover of the benchmark index was SR5.72 billion ($1.52 billion), as 206 of the stocks advanced and 40 retreated.
The Kingdom's parallel market Nomu gained 215.80 points, or 0.80 percent, to close at 27,053.10. This comes as 54 of the listed stocks advanced while 31 retreated.
The MSCI Tadawul Index increased 11.41 points, or 0.81 percent, to close at 1,418.88.
The best-performing stock of the day was Ades Holding Co., whose share price rose 6.97 percent to SR13.82.
Other top performers included National Gypsum Co., whose share price increased 5.66 percent to SR22.40, as well as Zamil Industrial Investment Co., which rose 5.42 percent to SR42.80.
Specialized Medical Co. recorded the most significant drop, falling 3.31 percent to SR23.36.
Saudi Advanced Industries Co. also saw its stock price fall 2.55 percent to SR26.75.
Al-Taiseer Group Talco Industrial Co.'s stock price declined 2.27 percent to SR43.10.
Dar Al-Arkan Real Estate Development Co. has closed its 14th sukuk issuance, marking the tenth tranche under its USD-denominated Islamic Sukuk Program, with a total size of SR2.81 billion, the company said in a statement to Tadawul.
The five-year sukuk, carrying an annual profit rate of 7.25 percent, was issued on June 25 and attracted strong demand from both regional and international investors. The order book reached SR10.8 billion, nearly four times oversubscribed, according to the bourse filing.
The issuance comprised 3,750 sukuk units, each with a par value of $200,000.
Dar Al-Arkan appointed Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Alkhair Capital, Al Rayan Investment LLC, Arqaam Capital, Bank ABC, and Dubai Islamic Bank as joint lead managers for the transaction.
Also on the mandate were Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, as well as Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank.
Shares in Dar Al Arkan ended the session marginally lower, closing at SR19.22, down 0.10 percent.
The Board of Directors of Sahara International Petrochemical Co., also known as Sipchem, has approved SR362 million in cash dividends for the first half of 2025, according to a statement published on Tadawul.
The payout applies to 752 million eligible shares, translating to a dividend of SR0.50 per share, or 5 percent of the share's par value.
Shares in Sipchem closed the session higher at SR19.06, gaining 4.24 percent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
41 minutes ago
- Al Arabiya
Oil tanker rates collapse as conflict in Middle East abates
The cost of shipping Middle East crude to customers in Asia collapsed on Thursday, the latest sign of oil markets returning to normal after conflict eased in the world's top petroleum-exporting region. Charter rates slumped by 17 percent to 55.50 industry-standard Worldscale points, according to data from the Baltic Exchange in London. It works out at roughly $1.60 a barrel. 'Risk premiums have naturally faded,' said Fredrik Dybwad, an analyst at Fearnley Securities AS. 'There is ample vessel availability, and considering normal seasonality, rates should naturally find a lower level.' Shipping prices soared two weeks ago amid concern Iran might disrupt maritime traffic around Hormuz Strait, a vital waterway through which 20 percent of the world's oil and liquefied natural gas must pass. After almost two weeks of fighting between Iran and Israel that began on June 13, there's since been a ceasefire, hitting oil prices and lowering the risks for ships that enter the region. The Joint Maritime Information Center, a naval liaison with commercial shipping in the region, said Thursday that no hostilities had been reported in the Strait of Hormuz over the past 48 hours and that traffic had returned to normal levels. 'A sustained period of inactivity and strengthening of the ceasefire agreement will stabilize maritime tension in the Arabian Gulf,' it said in a note. 'Now that the market has become sanguine about Iran shutting the Strait of Hormuz, ships are running fluidly again, the premium gas been removed, and rates are correcting lower meaningfully,' said Jonathan Chappell, senior managing director at Evercore ISI. The Worldscale system is designed to let owners and charterers quickly calculate the latest earnings and per-barrel costs on thousands of trade routes. Vessels on the industry's benchmark Saudi Arabia-to-China route are earning $35,281 a day, according to the Baltic Exchange. They were making almost $76,000 on Monday.
Arab News
2 hours ago
- Arab News
Musk calls Lebanese president as Starlink seeks license
BEIRUT: Billionaire businessman Elon Musk and Lebanese President Joseph Aoun spoke by phone to discuss making elements of Musk's sprawling business empire available in Lebanon, a statement from Aoun's office said on Thursday. The statement said Musk called Aoun and 'expressed his interest in Lebanon and its telecommunications and Internet sectors.' Aoun invited Musk to visit Lebanon and said he was open to having Musk's companies present in the country, which ranks among the countries with the lowest Internet speeds. The call came just weeks after Aoun and other top Lebanese officials met with Starlink's Global Director of Licensing and Development, Sam Turner, in Beirut for talks on providing satellite Internet services in Lebanon. US ambassador Lisa Johnson was pictured attending those meetings. The negotiations have prompted some pushback in Lebanon. Internet access in the country has so far been operated exclusively by state-owned companies and their affiliates, who are lobbying the government not to license Starlink. Starlink recently received licenses to operate in India and Lesotho.
Arab News
2 hours ago
- Arab News
Dubai's ISD Sports City partners with Real Madrid in landmark deal
DUBAI: ISD Sports City has announced a landmark partnership with the Real Madrid Foundation to manage a new branch of the Real Madrid Foundation Educational Football Program in Dubai. For the latest updates, follow us @ArabNewsSport The deal was announced with a commemorative photograph taken with Daniels Petrovs, CEO of ISD Sports City, and the Real Madrid Ambassador Roberto Carlos, marking the official launch of the collaboration. Real Madrid Foundation will bring its unique program that combines education and sports to ISD's world-class facilities, already home to state-of-the-art pitches. These include the latest hybrid-generation football fields, with all-natural pitches slated for hybrid conversion by the end of the year, an upgrade that positions ISD as a premier destination for international teams and events. 'Dubai is increasingly becoming the global epicentre for sport and youth development,' said Petrovs. 'Partnering with the Real Madrid Foundation allows us to elevate our football offering to high-quality standards while giving children across the UAE access to an unique experience and facilities. 'Our goal is simple: to build a center of excellence that sets the benchmark globally.' Petrovs, who has led ISD for the past 15 months, brings his expertise in building modern sports facilities, including converting all pitches to hybrid surfaces and also embedding sustainability and performance into every inch of ISD's infrastructure.
