https://arab.news/8pc3x
RIYADH: Saudi Arabia’s Tadawul All Share Index demonstrated stability on Tuesday, experiencing a marginal decline of 4.99 points or 0.04 percent, to close at 12,105.33.
The main index recorded a trading value of SR8.47 billion ($2.26 billion), with 82 stocks advancing and 128 declining.
The Kingdom’s parallel market, Nomu, saw a 1.18 percent increase, closing at 24,872.76. Similarly, the MSCI Tadawul Index rose by 0.01 percent, closing at 1,575.76.
The best-performing stock on the main market was the National Shipping Co. of Saudi Arabia. The firm’s share price soared by 4.48 percent to SR23.30.
Other top gainers include Sumou Real Estate Co. and Al Mawarid Manpower Co., as their share prices edged up by 4.22 percent and 4.17 percent, respectively.
Media giant MBC Group experienced the largest decline of the day, with its share price falling by 9.89 percent to SR72.
The positive performance of Nomu was driven by Al Rashid Industrial Co., whose share price edged up by 16.36 percent to SR38.40.
Foods Gate Trading Co. and Meyar Co., also fared well, as their share prices soared by 8.84 percent and 8.82 percent, respectively.
On announcements front, Saudi Pharmaceutical Industries and Medical Appliances Corp. disclosed a non-binding term sheet signing with Jiangsu Recbio Technology Co. to license and supply a recombinant Human Papillomavirus 9-valent vaccine.
According to a Tadawul statement, the agreement is valid for one year and may be extended upon the approval of both parties.
Alkhorayef Water and Power Technologies Co. announced that it won a contract worth SR70.54 million from National Water Co. to operate and maintain water sewage networks in the Taif business unit.
The company revealed that the impact of the deal will appear in the company’s financials in the first quarter of 2024.