RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Monday, losing 43.89 points, or 0.41 percent, to close at 10,789.75.
The total trading turnover of the benchmark index was SR5.19 billion ($1.38 billion) as 92 of the listed stocks advanced, while 124 retreated.
Similarly, the Kingdom’s parallel market Nomu also slipped 688.13 points, or 2.96 percent, to close at 22,528.32. This comes as 23 of the listed stocks advanced while as many as 34 retreated.
Similarly, the MSCI Tadawul Index dropped 8.27 points, or 0.59 percent, to close at 1,396.57.
The best-performing stock of the day was Development Works Food Co. The company’s share price surged 9.95 percent to SR109.40.
Other top performers include Al-Baha Investment and Development Co. and Saudi Enaya Cooperative Insurance Co., whose share prices soared by 7.69 percent and 7.00 percent to stand at SR0.14 and SR12.84, respectively.
Other top performers included Thob Al Aseel Co. and Al Gassim Investment Holding Co.
The worst performer was United Wire Factories Co., whose share price dropped by 5.20 percent to SR26.45.
Fawaz Abdulaziz Alhokair Co. and Arabian Pipes Co. also slipped, with share prices dropping by 5.14 percent and 3.42 percent to stand at SR17.70 and SR113, respectively.
Other poor performers include Lumi Rental Co. and Saudi Research and Media Group.
On the announcements front, Red Sea International Co. has announced signing a contract with Mubarak Marei Al-Salumi and Partners Contracting Co. to construct additional residential buildings for the Jafurah field project in the Eastern Province.
According to a Tadawul statement, under the agreement, Red Sea International Co. will be responsible for manufacturing, supplying, and installing prefabricated buildings with high specifications, including residential units.
The financial impact of this collaboration is expected to be rolled out in terms of revenues and profits in the final quarter of 2023.
Meanwhile, Arabian Internet and Communications Services Co., also known as SOLUTIONS, has signed an SR329 million contract with Saudi Aramco to provide supercomputing infrastructures.
A bourse filing revealed that SOLUTIONS would also offer the oil giant hosting, maintenance, support and related services per the agreement’s terms.
This move comes amid efforts to support Saudi Aramco’s digital transformation over the upcoming five years.
