Closing bell — TASI surges to 2-year high, gaining 294.72 points

 Saudi Arabia’s Tadawul All Share Index kicked off the week with its most robust daily performance in two years, surging by 294.72 points or 2.55 percent to reach a closing mark of 11,855.11.

The benchmark index also witnessed its second-highest trading turnover, totaling SR53.9 billion ($14.3 billion). Of the listed stocks, 215 made gains while 15 experienced declines.

Conversely, the Kingdom’s parallel market Nomu showed an upward trend, rising by 87.56 points or 0.33 percent to close at 26,317.99. Among the listed stocks, 26 advanced while 32 retreated.

Similarly, the MSCI Tadawul Index showed a notable gain of 41.45 points or 2.86 percent, finishing at 1,491.91.

Miahona Co. emerged as the top-performing stock of the day, with its share price soaring by 18.21 percent to SR17.66. Other notable performers included Wataniya Insurance Co. and Alkhorayef Water and Power Technologies Co., witnessing jumps of 9.96 percent and 8.25 percent respectively, closing at SR28.70 and SR170.60.

Additionally, Middle East Healthcare Co. and Bank Aljazira were among the top performers.

On the downside, Etihad Atheeb Telecommunication Co. experienced a significant drop of 9.96 percent to SR95.80. Thimar Development Holding Co. and Dr. Soliman Abdel Kader Fakeeh Hospital Co. also saw declines of 9.70 percent and 2.30 percent, settling at SR48.40 and SR59.50, respectively.

In Nomu, Miral Dental Clinics Co. led the gainers with a 14.75 percent increase to SR105.00. Naba Alsaha Medical Services Co. and Al-Modawat Specialized Medical Co. followed suit, rising by 8.91 percent and 7.81 percent to SR99 and SR157.40, respectively.

Other notable gainers on Nomu included National Environmental Recycling Co. and Almuneef Co. for Trade, Industry, Agriculture, and Contracting.

However, Lana Medical Co. faced a substantial drop, with its share price falling by 11.68 percent to SR32.50. Mayar Holding Co. and Edarat Communication and Information Technology Co. also experienced declines of 9.74 percent and 7.78 percent, closing at SR3.43 and SR306.00, respectively.

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