Saudi Market Dynamics: Tadawul Index Declines as Nomu Gains Ground
RIYADH: Saudi Arabia’s stock market witnessed a mix of fortune on Monday as the Tadawul All Share Index experienced a slight drop, closing 13.27 points down or 0.11 percent, at 12,372.89. The market turnover amounted to SR7.1 billion ($1.9 billion), with 91 stocks advancing while 147 declined.
Meanwhile, the Kingdom's parallel market, Nomu, showed robust performance, gaining 118 points or 0.38 percent, to close at 31,014.29. Here, 40 stocks moved upwards against 45 that retreated.
The MSCI Tadawul Index also fell, losing 6.80 points, or 0.44 percent, to finish at 1,538.59.
A notable performer was Jabal Omar Development Co., whose shares surged 10 percent to end at SR25.85. Knowledge Economic City and Makkah Construction and Development Co. also posted impressive gains, rising by 9.89 percent and 9.84 percent to SR16.66 and SR106, respectively.
Taiba Investments Co. and Jadwa REIT Al Haramain Fund saw positive shifts as well, with shares climbing 9.81 percent to SR51.50 and 5.78 percent to SR6.59, respectively.
Among the decliners, Raoom Trading Co. registered the steepest drop of 5.18 percent, closing at SR183. Close followers in decline included Nice One Beauty Digital Marketing Co. and Al-Baha Investment and Development Co., down 4.92 percent and 4.26 percent to SR56 and SR0.45, respectively.
ARTEX Industrial Investment Co. and Lumi Rental Co. also faced losses, with respective dips of 4.06 percent and 4.01 percent.
Nomu’s top gainer was International Human Resources Co., which saw an impressive gain of 10.95 percent to reach SR5.98. Other top performers included Knowledge Tower Trading Co., enjoying a 9.28 percent rise, and Enma AlRawabi Co., advancing 6.26 percent.
National Building and Marketing Co. and AME Co. for Medical Supplies closed with notable gains, increasing 5.44 percent and 5.14 percent, respectively.
On the downside, Mulkia Investment Co. had the weakest performance on Nomu, dropping 9.86 percent to finish at SR33.35. Albattal Factory for Chemical Industries Co. and Arabian Food and Dairy Factories Co. also saw declines.
