Saudi Main Market Rallies to 11,145 as Trading Session Ends
RIYADH — Saudi Arabia’s benchmark Tadawul All Share Index rose 0.45 percent on Tuesday to close at 11,145.55. The blue‑chip MT30 index gained 0.62 percent to 1,488.54, while the Nomu Parallel Market advanced 1.03 percent to 23,221.15.
Trading turnover on the main market reached SR4.65 billion ($1.24 billion), with 235.36 million shares changing hands. Market breadth remained negative, with 115 stocks advancing and 141 declining.
Among the top gainers, Tabuk Agricultural Development Co. climbed 5.8 percent to SR6.75, followed by Bupa Arabia for Cooperative Insurance Co., which rose 5.19 percent to SR196.60. Development Works Food Co. gained 4.82 percent, while Liva Insurance Co. and Alsagr Cooperative Insurance Co. also posted solid gains.
On the losing side, Saudi Cable Co. fell 4.53 percent to SR181.40, United International Transportation Co. declined 2.84 percent, and Nice One Beauty Digital Marketing Co. slipped 2.54 percent. Advanced Petrochemical Co. and Saudi Company for Hardware also retreated.
On the corporate front, the Saudi Exchange said the fluctuation limits for First Avenue for Real Estate Development Co. would be based on a share price of SR4.73 on June 16 after shareholders approved a capital increase through bonus shares. The Securities Depository Center is scheduled to deposit the additional shares into eligible investors’ portfolios by June 18.
Alinma Bank announced its intention to redeem in full its SR5 billion Additional Tier 1 Capital Sukuk, issued in 2021, on July 1, following regulatory approval. The bank said sukuk holders will receive the face value together with any accrued profit distribution on the redemption date. Alinma Bank shares rose 0.88 percent to close at SR25.30.
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