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07-06-23
Saudi Arabia's Stock Market Shows Stability with Tadawul All Share Index Holding Steady
(MENAFN) Saudi Arabia's Tadawul All Share Index maintained its stability for the third consecutive day, closing with a modest increase of 23.28 points or 0.21 percent at 11,316.87 on Tuesday. The parallel market Nomu also experienced gains, rising by 112.78 points to reach 21,428.78, while the MSCI Tadawul Index saw a slight uptick of 0.05 percent, closing at 1,497.65.
The benchmark index witnessed a total trading turnover of SR6.69 billion (USD1.78 billion), with 104 listed stocks advancing and 106 retreating. Among the top performers of the day, Abdullah Al Othaim Markets Co. stood out with its share price surging by 8.19 percent to SR14.80. The Power and Water Utility Co. for Jubail, as well as Yanbu and Aldrees Petroleum and Transport Services Co., also experienced notable gains, with their share prices soaring by 7.07 percent and 6.96 percent, respectively.
On the other hand, Tihama Advertising and Public Relations Co. struggled as the worst performer of the day, witnessing a drop of 2.52 percent in its share price, closing at SR19.36.
The stability and positive performance of the Tadawul All Share Index reflect the overall sentiment in Saudi Arabia's stock market. While some stocks experienced notable gains, the market remained relatively steady, indicating investor confidence and balanced trading activities. The performance of individual stocks, such as Abdullah Al Othaim Markets Co., reflects the potential for growth and investment opportunities within the Saudi Arabian market. Investors continue to closely monitor market movements and the performance of listed companies as they make informed decisions regarding their investment portfolios.
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