Tadawul All Share Index and Nomu register gains, Osool and Bakheet Investment to start trading
Investing.com | Editor Pollock Mondal
Published Nov 06, 2023 07:25AM ET
The Tadawul All Share Index and the Nomu Index in Saudi Arabia witnessed a rise, closing at 10,938.95 and 22,584.38 respectively. Among the top performers were National Medical Care Co., whose shares surged by 12.40 percent, and Al-Baha Investment and United Wire Factories Co., both of which saw their shares soar. On the other hand, Al-Etihad Cooperative Insurance Co.'s shares dropped by 8.03 percent, along with Gulf Insurance Group's and Thimar Development Holding Co.'s shares.
The net profits of several companies also reported significant figures. Tanmiah Food Co.'s net profits reached SR49.6 million ($13.23 million), attributed to factors like the expansion of Popeyes stores. Arabian Drilling's net profits hit SR422 million ($112.52 million) due to increased rig activity, while Dar Alarkan Real Estate's net profits stood at SR416.01 million ($110.93 million). Saudi Chemical Co.'s net profits also climbed to SR93.88 million ($25.02 million), driven by increased sales volume and prices for some products.
In other news, Mulkia Investment Co.’s Initial Public Offering (IPO) on Nomu witnessed robust investor interest with a subscription rate of 240 percent. The offering was facilitated by AlJazira Capital who announced that the trading date of the shares will be disclosed later.
Osool and Bakheet Investment Co.'s shares are set to start trading on Nomu from Tuesday, November 7, marking another key event in the Saudi Arabian stock market this week.
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