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RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Thursday, losing 8.35 points, or 0.07 percent, to close at 12,354.04.
The total trading turnover of the benchmark index was SR6.67 billion ($1.77 billion), as 112 of the stocks advanced and 114 retreated.
Similarly, the Kingdom’s parallel market Nomu lost 154.28 points, or 0.50 percent, to close at 30,846.59. This comes as 32 of the listed stocks advanced while 49 retreated.
The MSCI Tadawul Index also lost 1.64 points, or 0.11 percent, to close at 1,543.38.
The best-performing stock of the day was Almoosa Health Co., whose share price surged 10 percent to SR154.
Other top performers included Al Jouf Cement Co., whose share price rose 8.22 percent to SR12.90, as well as Northern Region Cement Co., whose share price surged 6.56 percent to SR9.91.
Saudi Reinsurance Co. recorded the most significant drop, falling 2.90 percent to SR60.20, while Middle East Specialized Cables Co. also saw its stock prices fall 2.67 percent to SR45.60.
Kingdom Holding Co. recorded a drop of 2.42 percent to SR9.29.
On the announcements front, Riyad Bank has completed the offer of its SR-denominated additional tier 1 capital sukuk under its Additional Tier 1 Capital Sukuk Program, which is worth SR10 billion.
According to a Tadawul statement, the total number of sukuk is 800, with the value of the offer standing at SR2 billion. The statement also showed that while the par value is SR250,000, the return is 6 percent per annum.
Riyad Bank ended the session at SR29.60, with no percentage change in price.
Albilad Capital has rebalanced the sukuk basket for the Albilad Saudi Sovereign Sukuk ETF to align with the components of the index. According to a bourse filing, the rebalancing took place on Jan. 22.
Albilad Capital ended the session at SR8.30, with no percentage change in price.
Saudi Arabian Cooperative Insurance Co. has decreased its accumulated losses to 0 percent of the capital. According to a Tadawul statement, this move is mainly attributed to the use of SR39 million out of the total statutory reserve balance amounting, to SR43 million to extinguish the firm’s accumulated losses.
The company highlighted that the use of the company’s statutory reserve has no impact on its financial obligations.
Saudi Arabian Cooperative Insurance Co. ended the session at SR16.70, up 1.24 percent.
Arabian Plastic Industrial Co. has signed a contract with Badael Co., a Public Investment Fund firm, to manufacture and supply plastic containers for 3 years.
A bourse filing revealed that the agreement value exceeds 5 percent of the company’s total revenues according to the audited annual financial statements for the year 2023. The filing also indicated that the financial impact of the deal is forecasted to be reflected positively on the financial statements starting from the first half of 2025.
Arabian Plastic Industrial Co. ended the session at SR37, up 1.23 percent.