Saudi Stock Market Continues Downward Trend
In Riyadh, the Tadawul All Share Index extended its decline for the third consecutive session this week, dropping 171.28 points to close at 11,659.94 on Tuesday. The total trading turnover reached SR5.34 billion ($1.42 billion), with 23 stocks advancing and 202 declining.
Market Performance
The Nomu parallel market also slipped by 0.81 percent to 26,234.79, while the MSCI Tadawul Index shed 20.97 points to close at 1,449.44. The standout performer on the main index was Sustained Infrastructure Holding Co., with its share price soaring by 6.2 percent to SR34.25.
Mediterranean and Gulf Insurance and Reinsurance Co. and AYYAN Investment Co. also saw positive movements, with their share prices rising by 3.98 percent and 3.63 percent, respectively. However, Saudi utility giant ACWA Power experienced a decline, with its share price sliding by 4.68 percent to SR456.60.
Announcements and Updates
Etihad Atheeb Telecommunication Co. announced that it secured two projects worth SR45.51 million to provide dedicated Internet services in 77 locations. The company stated that the first project is valued at SR23.64 million, while the second project amounts to SR21.87 million.
Mouwasat Medical Services Co. revealed that its shareholders approved a 17.5 percent cash dividend, amounting to SR 1.75 per share for 2023. This decision follows the company’s 10 percent net profit growth in 2023, reaching SR657.7 million.
Al Moammar Information Systems Co. disclosed that it received new orders to increase data center capacity, totaling SR 75.2 million. The company mentioned that further details regarding the order will be announced in the future.