RIYADH: Saudi Arabia’s Tadawul All Share Index dropped on Sunday, losing 56.096 points, or 0.46 percent, to close at 12,060.03.
The total trading turnover of the benchmark index was SR5.7 billion ($1.52 billion) as 60 stocks advanced, while 162 retreated.
The Kingdom’s parallel market, Nomu, also slipped 110.98 points, or 0.45 percent, to close at 24,721.72.
Meanwhile, the MSCI Tadawul Index dipped 6.26 points, or 0.4 percent, to close at 1,566.62.
The best-performing stock of the day was Etihad Atheeb Telecommunication Co. The company’s share price surged 9.19 percent to SR187.80.
Al-Baha Investment and Development Co. as well as Saudi Real Estate Co also performed well.
The worst performer was Astra Industrial Group whose share price dropped by 6.36 percent to SR120.80.
Tihama Advertising and Public Relations Co. as well as Bawan Co.’s shares also dipped.
On the announcements front, Saudi Chemical Co. holding, through its subsidiary Saudi Chemical Co. Ltd., and Moxico Ajlan & Bros mining firm signed a memorandum of understanding to supply blasting material and blasting services to Alkhunayqiyah mine which belongs to Moxico Ajlan & Bros.
According to a Tadawul statement, the MoU aims to support the mining sector in Saudi Arabia through the integrated high-quality services and products provided by SCCL.
On another note, the shares of the Arabian Drilling Co., listed in the energy sector, on the main Saudi market, recorded the highest price since listing at SR209.4.
“As a promising step in our commitment to advance the mining industry in Saudi Arabia, Saudi Chemical Co. Ltd. is proud to be a part of the growth of this vital sector through this collaboration with Moxico Ajlan & Bros mining company to contributing to the success of the mining operations and exploration, as well as enhancing and diversifying the national economy,” Thamer Al-Muhid, Saudi Chemical Group CEO and managing director, said.
A bourse filing revealed that the stock is trading at an increase of more than 1 percent, with about 60,000 shares traded so far.
With Sunday’s rise, the stock’s gains, compared to its listing price of SR100, reached about 110 percent.
Moreover, the company has not made any amendments to its capital since its listing on Nov. 7, 2022.
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