Saudi Arabia’s oil export value up 11.8% in November 2022: GASTAT

RIYADH: Saudi Arabia’s Tadawul All Share index rose 13.55 points, or 0.13 percent, to close at 10,809.15 on Wednesday.

The MSCI Tadawul 30 index rose 2.07 points to close at 1,497.91, while the Nomu parallel market gained 104.71 points to end at 19,268.76.

The total trading turnover of the TASI benchmark index was SR 4.11 billion ($1.09 billion) on Wednesday, with 117 stocks rising and 83 stocks falling out of 223 listed stocks.

Abdulmohsen Alhokair Group was the biggest gainer of the day, rising 9.91 percent to SR21.74. Other high risers: Alinma Tokio Marine Co., Al Alamiya for Cooperative Insurance Co., Dallah Healthcare Co. and Saudi Resurance Co.

The worst performance on Wednesday was Arabian Drilling Co. , which fell 2.19 percent to SR134. Other poor performers: Al-Jouf Agricultural Development Co., Zahrat Al Waha for Trading Co., Saudi Airlines Catering Co. and Tourism Enterprise Co.

Among the sectoral indices, eight out of 21 stock market indices fell, while the Bank index ended flat, while the rest advanced.

Healthcare Equipment and Services Index Dallah Healthcare Co. rose 1.82 percent to a high of 9,360.13, up 5.31 percent to end at SR134.80. Five of the seven constituent stocks rose, while the rest fell.

The pharma, biotech and life sciences index was the worst performing sector of the day, falling 1.28 percent to 3,063.33.

Ahead of the announcements, Arabian Centers Co., also known as Cenomi Centers, informed the bourse that its shareholders have approved the establishment of a Shariah-compliant sukuk program of up to SR4.5 billion within two years of its inception.

Sukuk are issued domestically from time to time in one-off or multiple issuances as part of the company’s long-term policy to move it into flexible, unsecured public markets financing. Cenomi Centers shares were flat at SR19.98.

On January 25, Science and Medical Equipment House Co. The company also announced that it has signed a SR 265 million Sharia-compliant loan agreement with Alinma Bank. The funding period will end on September 30, 2023, the report said.

Contractual returns and issuance of promissory notes guarantee the loan. It aims to finance newly awarded projects, including working capital financing and avoiding liquidity shortages. The company’s share price rose slightly to close at SR66.5.

Al-Jouf Mineral Water Bottling Co. at its extraordinary general meeting on January 24. shareholders approved a 50 percent increase in capital through a two-for-two bonus share split. The decision raises the capital from SR31.25 million to SR48 million. million at present. Al-Jouf shares rose 2.41 percent to SR27.65.

In addition, Saudi Fransi Capital announced that it will pay a cash dividend of 1.6 percent, or SR 0.16 per unit, to shareholders of Taleem REIT from October 1 to December 31, 2022, for a total distribution of SR 8.16 million. Shares of Taleem REIT rose 1.18 percent to SR12.