A halal investment platform backed by Saudi Aramco opens a branch in London

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RIYADH: The Tadawul comprehensive index of Saudi stocks rose 13.55 points – or 0.13% – to close at 10,809.15 on Wednesday.

While the MSCI Tadawul 30 index rose by 2.07 points to close at 1497.91, the NOMO parabolic market returned to 104.71 points to close at 19268.76.

The total trading volume of the TASI benchmark on Wednesday amounted to 4.11 billion Saudi riyals ($1.09 billion), with 117 stocks rising out of 223 listed and 83 stocks declining.

Abdul Mohsen Al Hokair Group topped the list of gainers today, rising by 9.91% to SAR 21.74. Other notable gainers include Alinma Tokio Marine Company, Al Alamiya Cooperative Insurance Company and Dallah Healthcare Company. and the Saudi Reinsurance Company.

The worst performing stock on Wednesday was the Arab Drilling Company, which fell by 2.19% to 134 riyals. The worst performing companies were Al-Jouf Agricultural Development Company, Zahrat Al-Waha Trading Company, and Saudi Airlines Catering Company. and tourism projects.

Among the sectoral indices, eight indices out of 21 traded on the stock exchange declined, while the banking index closed unchanged and the rest rose.

The index of health care equipment and services was the best performer, rising by 1.82 percent to 9360.13, thanks to Dallah Health Services Company, which jumped by 5.31 percent to 134.80 riyals. Of the seven constituent stocks, five are up while the rest are down.

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The Pharmaceuticals, Biotechnology and Life Sciences Index was the worst performer of the day, falling 1.28% to 3,063.33.

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On the announcement front, Arabian Centers Company, also known as Senomy Centers, informed the stock exchange that its shareholders had agreed to establish a Sharia-compliant sukuk program amounting to 4.5 billion Saudi riyals for a period of two years from the date of incorporation.

The Sukuk will be issued from time to time locally, in single or multiple issues, as part of the Company’s long-term policy to move them to finance more flexible and unsecured public markets. The share price of Cenomi Centers was SAR 19.98.

Scientific and Medical Equipment House Company also announced on January 25 that it had signed a Sharia-compliant credit facility agreement worth SAR 265 million with Al Namaa Bank. The statement said the funding period will expire on September 30, 2023.

The assignment of contract payments and promissory notes secures the loan. Its purpose is to finance recently awarded projects, including working capital financing and to avoid liquidity shortages. The company’s share price increased marginally and closed at SAR 66.5.

The shareholders of Al Jouf Mineral Water Bottling Company approved a 50% capital increase through a one-to-one bonus share distribution during the Extraordinary General Assembly meeting on January 24. The decision will raise the capital to 48 million riyals from the current 31.25 million riyals. Al-Jouf share price increased by 2.41% to 27.65 riyals.

Meanwhile, Saudi Financial Capital announced the distribution of cash dividends of 1.6% or 0.16 Saudi riyals per unit to the Unitholders of Education REIT Fund for the period from October 1 to December 31, 2022, with a total distribution of SAR 8.16 million. Shares of “Taleem REIT” rose 1.18%, to 12 riyals.

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