https://arab.news/55n6z
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, as it shed 196.22 points or 1.66 percent, to close at 11,612.03.
The total trading turnover of the benchmark index was SR7.08 billion ($1.89 billion), with 28 of the listed stocks advancing and 198 declining.
Similarly, Saudi Arabia’s parallel market Nomu also slipped by 530.84 points to close at 26,033.02, while the MSCI Tadawul Index shed 23.96 points to end the trading at 1,453.42.
The best-performing stock of the day was SAL Saudi Logistics Services Co., whose share price soared by 2.74 percent to SR270.40.
Other top performers of the day were Middle East Healthcare Co. and Tanmiah Food Co., whose share prices surged by 2.53 percent and 2.46 percent, respectively.
The worst performer of the day was Al-Baha Investment and Development Co., with its share price edging down 7.14 percent to SR0.13.
The top-performing stocks on the parallel market were Knowledge Net Co. and Miral Dental Clinics Co., whose share prices soared by 9.51 percent and 8.68 percent, respectively.
On the announcements front, Thimar Development Holding Co. approved the company’s board of directors’ recommendation to cut capital by 74 percent from SR250 million to SR65 million.
In a Tadawul statement, the company said that the capital reduction would not affect Thimar’s obligations, operations, financial or operational performance, and regulatory compliance.
Thimar added that the capital reduction would also not alter any shareholder’s stake.
Meanwhile, Saudi Advanced Industries Co. said it signed a non-binding memorandum of understanding to acquire all of Dar Al Balad Business Solutions Co. shares, including its rights and obligations.
In a Tadawul statement, the company noted that the acquisition is within the framework of the company’s long-term strategy for continued growth and sustainability.
Additionally, Kingdom Holding Co.’s shareholders approved its board of directors’ recommendation to pay a 2.8 percent cash dividend, or SR0.28 per share, from retained earnings for 2024.