Saudi Stock Market Slips as Tadawul All Share Index Drops
On Tuesday, Saudi Arabia’s Tadawul All Share Index experienced a decline, shedding 196.22 points or 1.66 percent to close at 11,612.03.
The total trading turnover for the benchmark index reached SR7.08 billion ($1.89 billion), with 28 listed stocks advancing and 198 declining.
Parallel Markets Also Experience Declines
Similarly, Saudi Arabia’s parallel market Nomu slipped by 530.84 points to close at 26,033.02, while the MSCI Tadawul Index shed 23.96 points to end trading at 1,453.42.
Top Performers and Underperformers of the Day
The best-performing stock of the day was SAL Saudi Logistics Services Co., with its share price soaring by 2.74 percent to SR270.40. Other top performers included Middle East Healthcare Co. and Tanmiah Food Co., whose share prices surged by 2.53 percent and 2.46 percent, respectively. On the flip side, Al-Baha Investment and Development Co. was the worst performer, with its share price edging down 7.14 percent to SR0.13.
On the parallel market, Knowledge Net Co. and Miral Dental Clinics Co. stood out as top performers, with their share prices soaring by 9.51 percent and 8.68 percent, respectively.
Company Announcements
Thimar Development Holding Co. approved a capital reduction by 74 percent, from SR250 million to SR65 million. The company assured that this reduction would not affect its obligations, operations, financial performance, or shareholder stakes.
Additionally, Saudi Advanced Industries Co. signed a non-binding memorandum of understanding to acquire all shares of Dar Al Balad Business Solutions Co., as part of its long-term growth strategy.
Kingdom Holding Co.’s shareholders approved a 2.8 percent cash dividend, or SR0.28 per share, from retained earnings for 2024.