Closing Bell: Saudi main index slips to close at 10,999
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, falling 118.96 points, or 1.69 percent, to close at 10,999.78.
The total trading turnover of the benchmark index stood at SR3.44 billion ($917 million), with 41 stocks advancing and 203 declining.
Similarly, the Kingdom's parallel market Nomu dropped 242.96 points, or 0.89 percent, to close at 27,017.77. A total of 32 listed stocks advanced, while 56 retreated.
The MSCI Tadawul Index also declined, losing 26.41 points, or 1.85 percent, to close at 1,402.40.
The best-performing stock of the day was Saudi Steel Pipe Co., which saw its share price surge 4.79 percent to SR61.20.
Other top performers included Raoom Trading Co., with its share price rising 4.35 percent to SR72.00, and National Industrialization Co., which gained 3.43 percent to close at SR9.36.
ACWA Power Co. Fund recorded the most significant drop, falling 7.79 percent to SR251.00.
Saudi Co. for Hardware saw its share price decline by 4.39 percent to SR29.40, while Alujain Corp. fell 4.38 percent to SR36.05.
On the announcement front, Sumou Real Estate Co. said it has signed a development agreement with the National Housing Co. for the Areem Makkah project. The contract involves constructing residential units — primarily villas — on land allocated to Sumou within the Makkah Gate project in Makkah City, with an estimated value of SR680 million.
According to a statement on Tadawul, the 42-month project is expected to positively impact the company's financial results once sales and implementation commence.
Sumou Real Estate Co. ended the session down 1.17 percent at SR44.00.
Dr. Soliman Abdul Kader Fakeeh Hospital Co. has signed a contract with Advanced Horizons Contracting Co. for the construction of a new medical center in Zahra, Jeddah. A bourse filing revealed that the contract is valued at approximately SR101.8 million. The full cost of construction and finishing will be funded by Yaser Yousef Naghi for Investment Co., as stipulated in the agreement.
Under the ownership of Yaser Yousef Naghi for Investment Co. and the oversight of DSFH, AHC will carry out all construction and finishing work for the Zahra Medical Center. DSFH will provide the medical equipment and furniture separately, in accordance with the framework agreement.
Dr. Soliman Abdul Kader Fakeeh Hospital Co. ended the session at SR42.85, down 0.35 percent.
Mutakamela Insurance Co. announced it has obtained approval from the insurance authority to renew its license to operate in the Kingdom. The renewed license will allow the company to conduct insurance activities from Aug. 22, 2025, through Aug. 21, 2028, according to a Tadawul statement.
Mutakamela Insurance Co. ended the session down 1.85 percent at SR15.02.
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