RIYADH: Saudi Arabia’s Tadawul All Share Index retreated on Monday, losing 60.30 points or 0.35 percent to 10,905.48.
On Monday, parallel market Nomu also dropped by 24.84 points or 0.12 percent to 20,039.15, even as the MSCI Tadawul 30 Index dipped by 0.50 percent to 1,481.70.
The total trading turnover of the benchmark index was SR5.27 billion ($1.40 billion).
The banking sector took a massive hit as the heavyweight Al-Rajhi Bank shed 2 percent to close at SR75.50.
Riyad Bank, Bank Albilad, SABB, Sipchem, Almarai and Dar Al Arkan also fell between 1 and 3 percent.
The top gainer of the day was Sadr Logistics Co., as its share prices went up by 9.96 percent to SR41.95.
Other top performers of the day were Anaam International Holding Group and Al-Baha Investment and Development Co., whose share prices went up by 9.82 percent and 6.14 percent, respectively.
The worst performer of the day was Ash-Sharqiyah Development Co. The company’s share prices went down by 6.15 percent to SR56.50.
Al Kathiri Holding Co.’s share prices also dropped by 5.37 percent to SR70.50, while shares of Arabian Cement Co. dipped by 3.63 percent to SR35.80.
On the announcements front, Banque Saudi Fransi announced that its board of directors agreed to repurchase as many as 2 million ordinary shares to retain them as treasury shares for the Employee Shares Incentive Program.
The bank revealed that the buyback would be financed by its internal resources, according to a Tadawul statement. The current percentage of BSF’s treasury shares of total target shares stands at 0.511 percent.
Meanwhile, Saudi Industrial Services Co.’s board of directors approved a 4 percent cash dividend, or SR0.40 per share, for the second quarter of 2022.
In a statement to Tadawul, SISCO said that this distribution is the final payment of ordinary dividends for the fiscal year ending Dec. 31, 2022, under the approved policy for 2022 and 2023.
