Arab News, Monday, Jun 05, 2023 | Thul-Qidah 16, 1444
Closing bell: Saudi bourses begin week on a positive note
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index began the week positively, gaining 207.01
points, or 1.88 percent, to close at 11,221.96.
While parallel market Nomu edged up 25.16 points
to 21,513.36, the MSCI Tadawul Index increased 2.16 percent to close at
1,490.24.
The total trading turnover of the benchmark index
on Sunday was SR4.37 billion ($1.17 billion) as 179 stocks advanced, while 34
retreated.
The best performer of the day was National Gas and
Industrialization Co., whose share price surged 10 percent to SR68.20.
Etihad Atheeb Telecommunication Co. and Saudi
Arabian Mining Co. were other top gainers, whose share prices increased by 9.86
percent and 5.23 percent, respectively.
Meanwhile, the telecom firm, which announced its
fiscal year result ending on March 31, 2023, reported a net profit of SR42.47
million, compared to a net loss of SR37.40 million in the same period of the
previous year.
The worst performer of the day was Saudi Enaya
Cooperative Insurance Co., whose share price dipped by 5.15 percent.
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, or SR1.5 a share, for 2022.
Earlier in March, the company had reported a net
profit of SR1.5 million for 2022, up 10 percent compared to 2021. Its share
price remained unchanged at SR160.
Meanwhile, Al-Babtain Power and Telecommunication
Co. shareholders approved the board’s recommendation to pay a 5 percent cash
dividend, or SR0.50 a share, for 2022.