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Arab News
6 days ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,038
RIYADH: Saudi Arabia's Tadawul All Share Index dipped on Wednesday, losing 56.67 points, or 0.51 percent, to close at 11,038.74. The total trading turnover of the benchmark index was SR4.01 billion ($1.06 billion), as 51 of the listed stocks advanced, while 195 retreated. The MSCI Tadawul Index decreased by 5.89 points, or 0.41 percent, to close at 1,415.42. The Kingdom's parallel market Nomu gained 43.62 points, or 0.16percent, to close at 27,345.08. This comes as 39 of the listed stocks advanced, while 43 retreated. The best-performing stock was SHL Finance Co., with its share price rising by 4.77 percent to SR23.70. Other top performers included Arabian Centers Co., whose share price rose by 4.19 percent to SR22.15, and Mutakamela Insurance Co., which saw a 3.71 percent increase to SR16.21. The worst performer of the day was Emaar The Economic City, whose share price declined by 3.63 percent to SR13.02. Arriyadh Development Co. and Alistithmar AREIC Diversified REIT Fund also saw declines, with their shares dropping by 3.33 percent and 3.31 percent to SR31.32 and SR8.75, respectively. On the announcements front, Asas Makin Real Estate Development and Investment Co. has signed a contract with First Avenue for Real Estate Development Co. to execute the Jadah Al-Huda residential project in Riyadh. According to a statement on Tadawul, the 23,199 sq. meters project will feature modern townhouse units designed to meet high-quality standards and urban integration, aligning with the growing demand in Saudi Arabia's real estate market. Valued at 14.5 percent of the actual construction cost, the 15-month contract is part of Asas Makin's expansion strategy to enhance its portfolio and diversify revenue streams. The company expects the project to positively impact its financial results while contributing to the development of the Kingdom's real estate sector. The firm's shares traded 0.8 percent higher in Wednesday's trading session on the main market to close at SR108. First Avenue for Real Estate Development Co.'s shares traded 3.33 percent higher in the main market to close at SR8.99. Al Yamamah Steel Industries Co. has announced the completion of construction and the start of trial operations at its new Al Yamamah Wind Power Systems Factory in Yanbu Industrial City. The company confirmed in a statement that commercial operations will officially begin on Aug. 1, subject to regulatory approvals. The factory's financial impact is expected to be reflected in Al Yamamah's consolidated financial statements starting from the third quarter of 2025. The company's shares traded 3.61 percent higher on the main market to close at SR34.42.
Arab News
08-07-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to 11,294
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, shedding 51.39 points, or 0.45 percent, to close at 11,294.07. The total trading turnover on the benchmark index reached SR5.32 billion ($1.42 billion), with 65 stocks advancing and 187 declining. The Kingdom's parallel market Nomu also edged down by 119.05 points to close at 27,343.79, while the MSCI Tadawul Index declined by 0.35 percent to 1,449.23. The best-performing stock on the main market was Arabian Centers Co., also known as Cenomi Centers, with its share price rising 7.60 percent to SR21.10. Arabian Drilling Co. also gained 5.66 percent to close at SR88.60, while Tourism Enterprise Co. climbed 5.49 percent to SR0.96. BAAN Holding Group Co. shares slipped 4.35 percent to SR2.42, ranking among the weaker performers of the day. On the announcement front, Alinma Bank launched a US dollar-denominated sukuk under its Trust Certificate Issuance Program, with the offering opening and closing on July 8, according to a Tadawul filing. The sukuk, which has a five-year maturity, requires a minimum subscription of $200,000, with increments in multiples of $1,000. The bank noted that the sukuk will be listed on the International Securities Market of the London Stock Exchange, and issued in reliance on Regulation S under the US Securities Act of 1933. Following the announcement, Alinma Bank's share price declined 0.74 percent to SR27. Meanwhile, Riyad Bank announced it had completed the issuance of US dollar-denominated Tier 2 trust certificates under its International Trust Certificate Issuance Program, with a total value of SR1.2 billion. According to a Tadawul statement, the bank issued 6,250 certificates, each with a nominal value of $200,000. These certificates will also be listed on the London Stock Exchange's International Securities Market. Riyad Bank's share price edged down 0.07 percent to close at SR28.88.
