Tadawul All Share Index Makes Positive Start as Saudi Stocks Exhibit Strong Performance

(MENAFN) Tadawul All Share Index, the primary stock market index of Saudi Arabia, had a positive start to the week, gaining 207.01 points or 1.88 percent, and closing at 11,221.96. Alongside this, the parallel market Nomu experienced a modest rise of 25.16 points, reaching 21,513.36, while the MSCI Tadawul Index showed a growth of 2.16 percent, concluding at 1,490.24.

On Sunday, the benchmark index witnessed a total trading turnover of SR4.37 billion (USD1.17 billion), with 179 stocks advancing and 34 retreating. Among the top performers of the day was National Gas and Industrialization Co., which saw its share price surge by 10 percent, reaching SR68.20. Etihad Atheeb Telecommunication Co. and Saudi Arabian Mining Co. were also notable gainers, with their share prices increasing by 9.86 percent and 5.23 percent, respectively.

Additionally, Etihad Atheeb Telecommunication Co. announced its fiscal year results, reporting a net profit of SR42.47 million for the period ending March 31, 2023, compared to a net loss of SR37.40 million in the same period the previous year. On the other hand, Saudi Enaya Cooperative Insurance Co. experienced a decline of 5.15 percent in its share price, making it the worst performer of the day.

In another development, shareholders of Fesh Fash Snack Food Production Co. approved the board of directors' recommendation to pay a cash dividend of 15 percent, equivalent to SR1.5 per share, for the year 2022. The company had previously reported a net profit of SR1.5 million for 2022, reflecting a 10 percent increase compared to 2021. Its share price remained unchanged at SR160. Similarly, Al-Babtain Power and Telecommunication Co. shareholders approved the board's recommendation to pay a 5 percent cash dividend, or SR0.50 per share, for the year 2022.

MENAFN05062023000045014228ID1106386496