Closing Bell: Saudi main index slips to close at 11,438
The total trading turnover of the benchmark index was SR3.68 billion ($983 million), as 85 of the stocks advanced and 153 retreated.
Similarly, the Kingdom's parallel market Nomu lost 185.50 points, or 0.67 percent, to close at 27,655.56. This comes as 26 of the listed stocks advanced while 52 retreated.
The MSCI Tadawul Index lost 6.21 points, or 0.42 percent, to close at 1,456.55.
The best-performing stock of the day was Etihad Atheeb Telecommunication Co., whose share price surged 6.44 percent to SR102.40.
Other top performers included Miahona Co., with its share price rising 4.59 percent to SR26.00, and Middle East Paper Co., which surged 4.55 percent to SR29.85.
SICO Saudi REIT Fund recorded the most significant drop, falling 5.72 percent to SR4.45.
Saudi Advanced Industries Co. also saw its stock prices fall 5.11 percent to SR26.95.
Jabal Omar Development Co. also saw its stock prices decline 3.38 percent to SR24.00.
On the announcements front, Bank Albilad raised $650 million from its US dollar-denominated additional tier 1 sukuk issuance. According to a Tadawul statement, the total number of sukuk stands at 3,250 with a par value of $200,000, a return of 6.5 percent per annum, and perpetual maturity.
Bank Albilad ended the session at SR27.10, down 0.74 percent.
Sadara Basic Services Co. reported a net loss of SR1.26 billion for the first quarter of 2025, marking a 48 percent increase from the same period last year, according to a bourse filing.
The company attributed the deeper loss primarily to planned turnaround activities during the quarter, though this was partially offset by lower feedstock consumption and reduced interest expenses.
Rawasi Albina Investment Co. announced the completion of the memorandum of association and commercial registration of its new wholly owned subsidiary, Nemo Al Jazirah Co., with a capital of SR5,000.
According to a Tadawul statement, the limited liability company will begin operations after finalizing all administrative and technical incorporation requirements.
Shares of Rawasi Albina Investment Co. closed at SR4.00, gaining 2.25 percent.
Middle East Pharmaceutical Industries Co. has renewed a Shariah-compliant credit facility agreement with Alinma Bank for SR50 million.
According to a stock exchange disclosure, the one-year financing is backed by a promissory note worth SR55 million. The facility will be used to support the company's working capital and asset financing needs.
Shares of the company ended the session at SR126.60, down 0.32 percent.
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