Al-Rajhi Co. Leads Saudi Stock Market Surge

The Saudi Arabian stock market, represented by the Tadawul All Share Index, closed positively on Thursday. The index recorded a gain of 0.55 percent, reaching 11,658.66 points. Trading activity was robust, with a total turnover of SR4.94 billion ($1.31 billion). Notably, 122 stocks advanced while 100 declined, showcasing a mixed trading day.

The Nomu parallel market also saw an uptick, closing at 25,909.95 points with a 0.64 percent increase. Among the 33 advancing stocks, Arabian Plastic Industrial Co. stood out with an 11.20 percent surge. Conversely, 34 stocks declined, with Arabian Food and Dairy Factories Co. experiencing a notable 5.29 percent drop.

Al-Rajhi Co. for Cooperative Insurance was the star performer on the main index, witnessing an impressive 8.85 percent increase in its share price to SR209. Other notable gainers included Al-Jouf Agricultural Development Co. and Saudi Arabian Cooperative Insurance Co. On the flip side, Al-Baha Investment and Development Co. faced the largest decline, with a 7.69 percent drop.

Overall, the Saudi stock market displayed a mix of gains and losses, reflecting the dynamic nature of stock trading. Investors closely monitored the market movements, reacting to individual company performances and broader economic trends.