Closing Bell: Saudi main index closes in red at 11,038
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
5 hours ago
- Arab News
Dubai International Airport sets H1 passenger record with 46m travelers
RIYADH: Dubai International Airport handled 46 million passengers in the first half of 2025, marking its busiest six-month period on record despite regional airspace disruptions and global headwinds. In a press release, operator Dubai Airports said the 2.3 percent year-on-year increase underscores the continued strength of the emirate's aviation sector and the terminal's operational resilience. The growth came despite temporary airspace restrictions in May and June, which forced several Gulf carriers to reroute flights and adjust schedules due to heightened military activity and no-fly zone declarations in parts of the Middle East. Paul Griffiths, CEO of Dubai Airports, said: 'DXB's continued growth through a period of regional challenges highlights the strength of Dubai and the UAE, the agility of our operations, and the commitment of our airport community.' In the second quarter alone, the airport handled 22.5 million passengers, a 3.1 percent increase over the same period last year. April was the busiest month of the quarter and the most active April on record, with 8 million travelers. Average monthly traffic during the first half stood at 7.7 million passengers, with daily volumes averaging 254,000. January was the busiest month, setting a new monthly record with 8.5 million passengers. In the second quarter alone, DXB served 22.5 million guests, an increase of 3.1% over the same period last year. April emerged as the busiest month of the quarter and the most active April on record, with 8 million guests passing through the terminals. — Dubai Media Office (@DXBMediaOffice) July 29, 2025 DXB also handled 222,000 flights and processed 41.8 million bags in the first half, with 91 percent delivered within 45 minutes of arrival. The mishandled baggage rate stood at 2 bags per 1,000 passengers, well below the industry average of 6.3, the release added. 'As we enter the second half of the year, travel activity is expected to accelerate, beginning with the late-summer peak and leading into a winter season filled with high-profile events across entertainment, sport, and business,' said Griffiths. He said the Dubai Airshow 2025 will be a standout event, poised to break previous records and highlight the bold vision driving the future of aviation and aerospace. 'Based on our performance to date and a positive outlook, we expect the annual traffic to reach 96 million this year, bringing us closer to the symbolic 100 million milestone,' added Griffiths. India remained DXB's top market in the first half of the year, with 5.9 million passengers, followed by Saudi Arabia with 3.6 million. The UK accounted for 3 million passengers, while Pakistan and the US recorded 2.1 million and 1.6 million, respectively. London was the busiest city destination with 1.8 million passengers, followed by Riyadh, Mumbai, Jeddah, New Delhi, and Istanbul. DXB also processed more than 1 million tonnes of cargo during the first half of 2025, a 0.1 percent increase compared with the same period last year. The airport is connected to more than 269 destinations in over 107 countries and is served by 92 international carriers.
Arab News
5 hours ago
- Arab News
Coalition hosts anti-terror finance training in Comoros
The Saudi Arabia-backed Islamic Military Counter Terrorism Coalition has launched a five-day training course in Moroni, Comoros, focused on combating terrorism financing and money laundering. The course aims to equip participants with information on national and international legal frameworks related to these issues, the Saudi Press Agency reported on Tuesday. It focuses on skills to analyze financial data and detect suspicious activities, raise public awareness of related risks, and develop effective prevention and coordination mechanisms among regulatory, security, and financial authorities. Participants include representatives from regulatory and judicial bodies, the Ministry of Interior, law enforcement agencies, financial institutions, non-financial businesses, and non-profit organizations. The course reflects the coalition's commitment to enhance international cooperation and develop national civil and military competencies to combat these crimes. It also aims to create a professional training environment that fosters integrated and effective systems to combat financial threats linked to terrorism.
Arab News
5 hours ago
- Arab News
SRMG appoints Nedaa Al-Mubarak as CEO of Media Solutions
RIYADH: The Saudi Research and Media Group (SRMG) has announced the appointment of Nedaa Al-Mubarak as Chief Executive Officer of SRMG Media Solutions (SMS), its performance-driven commercial arm. Al-Mubarak's appointment comes as a step in SRMG's continued transformation and growth strategy, as it expands its focus on outcome-based solutions for partners across the Middle East. In her new role, she will lead SMS's efforts to deliver strategic offerings powered by premium content, advanced adtech, and unmatched access to regional audiences. Leveraging proprietary first-party data and a growing roster of strategic partnerships, SMS serves as the exclusive commercial representative for over 30 SRMG brands, including Asharq News, Arab News, Hia, Sayidaty, Billboard Arabia, Manga Arabia, and Thmanyah, which recently secured exclusive rights to distribute Saudi Pro League content across the region through 2031. These partnerships give advertisers seamless access to over 210 million users worldwide across digital, TV, print, audio, and OOH platforms. Whether targeting finance, tech, sports, or culture, SMS delivers tailored media solutions powered by vertical expertise, proprietary insights, and agile content delivery. 'With SRMG Media Solutions, we've built a future-ready platform that meets the region's evolving media and advertising needs with precision, creativity, and scale,' said Jomana Alrashid, CEO of SRMG. 'Nedaa brings the vision, experience, and ambition to accelerate this next chapter. Her deep understanding of both the public and private sectors, coupled with her performance-first mindset, makes her the right leader to unlock new value for our clients and our business. Al-Mubarak is a forward-looking media executive with a track record of delivering growth and transformation. In her role as Managing Director of SRMG Think, she has helped redefine the group's strategic consulting business, tripling its service lines and more than doubling revenue. With a background spanning investment, tourism, and economic policy, she has led initiatives that contributed to the development and advancement of multiple sectors. At SMS, she will oversee a powerful media solutions platform that spans planning, activation, and optimization - enabling brands to connect with purpose, perform with precision, and scale with impact. Powered by data, insight, and creative execution, SMS delivers smarter, outcome-first campaigns across the full SRMG ecosystem. From high-reach media to curated, vertical-specific solutions, every placement is engineered to convert and built to move the needle. 'The media industry is at a crossroads - and SMS is uniquely positioned to lead the way forward,' said Al-Mubarak. 'Our mission is clear: deliver real outcomes for our partners by combining data, creativity, and technology. I'm proud to take on this role at such a pivotal time, and excited to work with our clients to shape the next era of growth.' SMS is the trusted partner for ambitious businesses looking to drive performance across the Middle East. Its integrated approach fuses audience insight, exclusive content, and digital innovation into measurable results that move the needle.
