The stock market of Saudi Arabia rose on Monday, with the Tadawul All Share Index gaining 97.24 points, or 0.85 percent, closing at 11,591.69. Trading turnover reached SR 5.62 billion ($1.49 billion), as 214 stocks advanced while 36 stocks retreated.
The MSCI Tadawul Index also climbed 9.87 points, or 0.66 percent, to 1,506.61. Meanwhile, the parallel Nomu market fell 59.64 points, or 0.23 percent, to 25,803.22. Analysts said these movements reflect cautious optimism among investors despite mixed market signals across sectors.
SHL Finance Co. led gains with a 9.99 percent increase to SR23.56. Saudi Co. for Hardware rose 6.75 percent, and Methanol Chemicals Co. gained 5.67 percent. Rabigh Refining and Petrochemical Co. increased 5.51 percent, while CHUBB Arabia Cooperative Insurance Co. rose 5.41 percent. Other mid-cap stocks also showed steady advances, suggesting investor interest in selective sectors. Experts noted that these gains highlight strong demand for high-performing companies in the current trading environment.
On the downside, Naseej International Trading Co. fell 3.54 percent to SR77.55 for the second consecutive session. Saudi Reinsurance Co. dropped 2.73 percent, and Tihama Advertising lost 2.16 percent. Flynas Co. and Leejam Sports Co. declined 1.7 percent and 1.22 percent, respectively. Market analysts said the declines reflect profit-taking after recent rallies in some stocks. Overall, mixed market activity indicates cautious sentiment despite optimism in leading equities.
To enhance liquidity, Saudi Exchange Co. appointed Morgan Stanley Saudi Arabia as Market Maker for Saudi Industrial Export Co. and Al Kathiri Holding Co., effective October 14. The firm must maintain a minimum 50 percent order presence, a maximum 2 percent bid-ask spread, and a minimum order size of 75,000 shares.
Saudi Industrial Export Co. shares rose 1.42 percent to SR2.14, while Al Kathiri Holding Co. increased 1.4 percent to SR2.17. This appointment aims to stabilize trading and improve confidence among investors. Experts expect the stock market to sustain selective growth supported by corporate activity, tighter spreads, and enhanced liquidity measures.
