Arab News, Saturday, Jan 21, 2023 | Jamadi Al Thani 28, 1444
Closing bell: Saudi bourse edges up 0.17% to end at 10,682
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index gained 17.97 points — or 0.17 percent
— on Thursday to close at 10,682.01.
While MSCI Tadawul 30 Index inched up 2.14 points
to close at 1,481.90, the parallel market Nomu surged 159.71 points to
19,213.17.
TASI’s total trading turnover of the benchmark
index on Thursday to SR3.5 billion ($930 million), with 110 stocks of the listed
223 declining and 93 advancing.
BinDawood Holding Co. was the topmost gainer of
the day, which rose 4.9 percent to SR60. The other gainers were Al Kathiri
Holding Co., Development Works Food Co., Al Gassim Investment Holding Co.
and Aldawaa Medical Services Co.
The worst performer on Thursday was Saudi Kayan
Petrochemical Co., which fell 3.37 percent to SR13.18. Other top decliners were
Alamar Foods Co., Tourism Enterprise Co., Alinma Tokio Marine Co. and Qassim
Cement Co.
Among sectoral indices, 14 of the 21 listed on the
stock exchange advanced while the rest declined. The Food & Staples Retailing
Index was the top performer as it hiked 2.03 percent to 9,056.96. Five out of
six constituent stocks ended positively, while Abdullah Al Othaim Markets Co.
slid 0.38 percent at SR104.06.
The Diversified Financial Index fared the lowest
as it shut shop at 6,153.29 points, down 1.17 percent. Saudi Tadawul Group
Holding Co., the index’s essential constituent, slipped 2 percent to SR167.
On the announcements front, ACWA Power informed
Tadawul that it started the operation of the first phase of the concentrated
solar power project Noor Energy Co. 1, with a capacity of 200 megawatts.
Noor Energy 1 project is the fourth phase of
Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
The statement said that the project’s total
operational capacity reached 417 MW out of a total of 950 MW generated by CSP
and photovoltaic panels.
The expected financial impact of operating the
project’s final phase with a capacity of 950 MW will appear on the company’s
financials in the first quarter of 2024.
Ataa Educational Co. informed Tadawul that its
shareholders approved the board recommendation to distribute a cash dividend at
SR1 a share, or 10 percent of capital, for the fiscal year ended July 31, 2022,
allocating a total of SR42.09 million.
Saudi Cable Co., meanwhile, announced that the
company’s strategic plan, debt capitalization, unwillingness to invest outside
the Kingdom and the cost of lending, mentioned by Managing Director Nael Fayez
in a TV interview, are proposals intended to work through partnerships between
the top management and several consulting entities.
The proposals will be submitted to the financial
restructuring trustee upon appointment, the statement said.