Latest news with #SaudiStockMarket
Arab News
02-07-2025
- Business
- Arab News
Closing Bell: Saudi main index inches up to close at 11,129
RIYADH: Saudi Arabia's Tadawul All Share Index gained 8.04 points, or 0.07, to close at 11,129.64 on Wednesday. Total trading turnover reached SR5.41 billion ($1.44 billion), with 103 stocks posting gains and 140 declining. The Kingdom's parallel market, Nomu, also recorded an increase, gaining 130.72 points, or 0.48 percent, to settle at 27,375.84, as 32 stocks advanced and 41 retreated. The MSCI Tadawul 30 Index also gained 3.34 points, or 0.24 percent, to finish at 1,423.94. BAAN Holding Group Co. was the best-performing stock of the session, with its share price rising 9.73 percent to SR2.48. Saudi Industrial Export Co. followed with a 7.66 percent increase to SR2.39. Other gainers included Almunajem Foods Co., which rose to a fresh year high on Wednesday, closing at SR77 with a 5.77 percent increase. On the losing side, Buruj Cooperative Insurance Co. saw the steepest decline, falling 3.24 percent to SR17.92. Saudi Industrial Development Co. dropped 3.07 percent to SR30.9, and National Shipping Co. of Saudi Arabia declined 3.06 percent to SR23.75. On the announcements front, Saudi Arabian Mining Co., also known as Ma'aden, finalized its acquisition of all shares owned by AWA Saudi and Alcoa Saudi in two of its major subsidiaries, according to a statement on the Saudi Stock Exchange. The move follows the approval by Ma'aden's extraordinary general assembly on June 25 to increase the company's capital through a share issuance as consideration for acquiring the remaining stakes in Ma'aden Bauxite and Alumina Co. and Ma'aden Aluminium Co. According to Ma'aden, the acquisition was made effective, and share allocation procedures were completed on July 1. The newly issued shares were deposited in favor of AWA Saudi and Alcoa Saudi, with the holdings officially listed on the same day. The acquisition involved Ma'aden purchasing AWA Saudi's entire stake in Ma'aden Bauxite and Alumina Co., totaling 128,010,000 ordinary shares — equivalent to 25.1 percent of the company's issued capital. It also included Alcoa Saudi's full shareholding in Ma'aden Aluminium Co., amounting to 165,001,125 ordinary shares, or 25.1 percent of the company's issued capital. To execute the transaction, Ma'aden increased its capital from SR38.03 billion to SR38.89 billion — a 2.26 percent rise. As a result, the total number of its ordinary shares grew from 3.80 billion to 3.89 billion. Under the new share distribution, Alcoa Saudi received 67,612,162 new ordinary shares, representing 1.74 percent of Ma'aden's post-acquisition capital, while AWA Saudi received 18,365,385, or 0.47 percent of the capital. Additionally, Ma'aden paid AWA Saudi SR562.5 million in cash as part of the transaction. The company emphasized that the acquisition does not involve any related parties. The financial implications of the deal will be reflected in Ma'aden's consolidated financial statements for the fiscal year ending June 30. Ma'aden's share price closed 1.72 percent higher to reach SR53.25. Saudi National Bank announced its plan to redeem its SR2 billion tier-1 capital sukuk in full on July 15, marking the 10th anniversary of the instrument's issuance. The sukuk, which was launched on July 15, 2015, will be redeemed at face value — 100 percent of the issue price — in accordance with the terms and conditions set at issuance, the bank stated in a press release published on Tadawul. The move follows Saudi National Bank's securing of the necessary regulatory approval to proceed with the redemption. The full principal amount, along with any accrued but unpaid periodic distributions, will be paid to sukuk holders on the redemption date. The SR2 billion sukuk issuance comprised 2,000 certificates, each with a face value of SR1 million. It represented 100 percent of the issued sukuk under this offering. Following the redemption, the total value of the sukuk issuance will be reduced to zero. This redemption reflects the bank's capital management strategy and its ongoing commitment to optimizing its financial structure. The bank's share price closed 0.34 percent higher on Wednesday's session to SR35.84.
Zawya
30-06-2025
- Business
- Zawya
Saudi: TASI closes at 11,202 points, the highest since May 21
RIYADH — All Tadawul Share Index (TASI), the benchmark Saudi stock market index, rose for the fifth consecutive session on Sunday, rising nearly one percent (134.37 points) to close at 11,202 points, its highest level since May 21. The total value of traded shares amounted to SR5 billion. The Saudi Parallel Market Index (NOMU) also closed higher, gaining 195.03 points to settle at 27,248.13 points, with a total trading value of SR39 million. The Saudi market was able to regain levels seen before the outbreak of Iranian-Israeli conflict. This was supported by broad gains across most sectors, with the exception of the utilities sector, which recorded a slight decline. Most Gulf markets registered gains during Sunday's trading session, driven by improved regional sentiment. The public utilities and consumer goods retail and distribution sectors recorded a decline of 0.09 percent and 0.02 percent, respectively, while the media and entertainment sector led the gainers, increasing by 7.5 percent. Basic materials was the highest traded sector, with a value of SR780 million. In the transportation sector, the shares of newly listed Flynas returned to SR80, the same offering price, while Saudi Aramco's shares stabilized at SR24.24, despite a slight increase in oil prices. Naseej International Trading shares rose 9 percent, their strongest gain in 14 weeks, while Sadaq led the gainers with a 10 percent rise to SR30. Sinomi Retail shares came in third place in terms of gainers, jumping nearly 9 percent to SR22.39, continuing its positive performance over the past three months, during which it recorded gains of nearly 150 percent. Investors are awaiting the general assembly meeting of ACWA Power, a company included in the utilities index, on Monday, where a vote will be held on a proposal to double the company's capital to SR14 billion. Across the rest of the Gulf markets, most stock exchanges recorded varying gains. The Kuwait Stock Exchange index rose 1.75 percent, followed by Bahrain with a 0.85 percent increase, and Qatar with a 0.78 percent rise. Meanwhile, the Muscat Securities Market bucked the trend, declining slightly by 0.15 percent. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
27-06-2025
- Business
- Asharq Al-Awsat
Saudi Market Closes at Highest Level in a Month at 11,068 Points
Saudi Arabia's main stock index (TASI) rose on Thursday by about 94.29 points, or 0.86%, closing at 11,068.27 points, its highest level in over a month. Trading liquidity reached SAR5.7 billion (approximately $1.5 billion), marking the biggest weekly gains in two years. Shares of Saudi Aramco, the heaviest-weighted stock in the index, advanced 0.66% to 24.30 riyals. In the banking sector, Al Rajhi Bank and Saudi National Bank shares climbed 0.85% and 0.98% respectively, closing at 94.7 riyals and 36 riyals. Mining giant Ma'aden and petrochemical company SABIC saw their shares rise by 0.39% and 0.73%, ending the session at 50.9 riyals and 54.9 riyals respectively. ADES Holding led the gainers, jumping 7% to 13.82 riyals, followed by Gypsum Co. (Jebsco), which rose 5.6% to 22.4 riyals. On the other hand, newly listed SMC Health Care recorded the steepest decline, falling 3.3% to 23.36 riyals, while shares of Mutawareh dropped 2.5% to 26.75 riyals. Meanwhile, the Saudi Parallel Market Index (Nomu) rose 0.8%, closing at 27,053.1 points. Trading value on Nomu reached 23.5 million riyals, with 3.2 million shares changing hands.
Zawya
12-06-2025
- Business
- Zawya
Saudi stock market reopens with 1.4% jump after Eid holiday
RIYADH — The Saudi stock market resumed trading on Wednesday following the Eid Al-Adha holiday with a strong rally, as the Tadawul All Share Index (TASI) jumped by 155.53 points, or 1.4 percent, to close at 11,160 points. Total traded value reached SR1 billion. Saudi Aramco, the index's largest component by weight, gained 1.6 percent to reach SR25.20. In the energy and industrial sectors, Al-Masafi rose 1.6 percent to SR63.20, while Bahri (National Shipping Company of Saudi Arabia) climbed 1.3 percent to SR31.00. In the basic materials sector, SABIC and Ma'aden both advanced nearly 2 percent, closing at SR56.30 and SR51.60 respectively. The banking sector saw strong momentum as Al Rajhi Bank rose 1.7 percent to SR94.90, SNB (National Commercial Bank) climbed 2.6 percent to SR35.15, and Riyad Bank surged 3 percent to SR28.70. The post-holiday gains reflect renewed investor confidence in the Saudi economy, buoyed by strong performance in heavyweight stocks across energy, industry, and finance. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
25-05-2025
- Business
- Reuters
Saudi Arabia's stock index rises, snapping three-day losing streak
May 20 (Reuters) - Most stock markets in the Gulf settled higher on Tuesday, with Saudi Arabia's benchmark stock index (.TASI), opens new tab snapping three consecutive sessions of decline and the Dubai main share index hitting another record high. Saudi Arabia's stock index rose 0.29%. The country's economic minister Faisal Ali Ibrahim said Saudi Arabia was ready for "multiple oil price scenarios" at the Qatar Economic Forum in Doha. "Fundamentally, the Saudi stock market remains supported by a positive economic outlook, which could lead to potential advances in the medium term, provided oil prices and external factors are favourable," said Hani Abuagla, Senior Market Analyst at XTB MENA. Oil prices - a catalyst for Gulf stocks - steadied on Tuesday amidst uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks. Brent futures slipped around 0.4% by 1222 GMT O/R Meanwhile in UAE, Dubai's main share index (.DFMGI), opens new tab finished the day 0.44% lower after three straight sessions of gains. Abuagla attributed the move lower to profit-taking following the third-straight day of the index scaling record highs. Salik Company ( opens new tab, the UAE's toll operator, was the top loser on the index down 2.78%. Abu Dhabi's benchmark index (.FTFADGI), opens new tab closed 0.43% higher after touching its highest level since March last year, boosted by gains in the financial sector. First Abu Dhabi Bank ( opens new tab, the United Arab Emirates' biggest lender, climbed 3.25%. Qatar's benchmark stock index (.QSI), opens new tab rose 0.5% to its highest since December 31, 2023. Qatar's sovereign wealth fund (QIA) is planning to at least double its annual U.S. investments in the next decade, its CEO said on Tuesday. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab settled 0.87% higher, with investment banking firm Beltone Financial ( opens new tab leading gains at 8.05%.
