Saudi Main Market Ends Lower at 10,497
The Kingdom's parallel market also retreats, dropping 179.38 points to close at 25,345.91.
Riyadh: Saudi Arabia’s Tadawul All Share Index closed lower on Monday, shedding 96.92 points, or 0.91 percent, to end at 10,497.05.
Trading volume reached 260.53 million shares, with turnover of SR4.10 billion ($1.09 billion).
A total of 55 stocks advanced while 198 declined.
The Kingdom’s parallel market, Nomu, also retreated, dropping 179.38 points, or 0.70 percent, to close at 25,345.91, with 32 gainers against 57 losers.
The MSCI Tadawul Index slipped 12.61 points, or 0.92 percent, to 1,362.97.
Top gainers included Lazurde Co. for Jewelry, which jumped 6.11 percent to SR13.02, and Almasane Alkobra Mining Co., up 3.70 percent at SR65.95.
Ataa Educational Co. climbed 3.46 percent to SR64.30, Wafrah for Industry and Development Co. added 3.04 percent to SR25.76, and Aldrees Petroleum and Transport Services Co. advanced 2.91 percent to SR116.70.
On the downside, Thimar Development Holding Co. dropped 9.97 percent to SR45.06, while Saudi Real Estate Co. fell 6.20 percent to SR16.49.
Saudi Cable Co. lost 5.50 percent to SR141, Saudi Fisheries Co., also known as Al Asmak, slipped 4.40 percent to SR92.40, and Ash-Sharqiyah Development Co. declined 4.28 percent to SR16.10.
On the announcement front, Al Moammar Information Systems Co., also known as MIS, said it signed a SR227.8 million contract, including VAT, with the Saudi Authority for Data and Artificial Intelligence for the “Naqaa” Data Center Expansion project in Riyadh.
The 36-month deal is expected to have a positive financial impact starting in the fourth quarter of 2025.
MIS shares closed 0.62 percent lower at SR129.
Meanwhile, the Mediterranean and Gulf Insurance and Reinsurance Co. announced regulatory approval from the insurance authority for its planned merger with Buruj Cooperative Insurance Co. Under the agreement, Buruj will be merged into Medgulf, with its assets, rights, and obligations transferred in exchange for 33.2 million new Medgolf shares issued to Buruj shareholders.
The insurer noted that completion of the merger remains subject to the approval of the Capital Market Authority and the shareholders of both companies.
Medgulf shares edged up 0.13 percent to SR15.67.
Trading volume reached 260.53 million shares, with turnover of SR4.10 billion ($1.09 billion).
A total of 55 stocks advanced while 198 declined.
The Kingdom’s parallel market, Nomu, also retreated, dropping 179.38 points, or 0.70 percent, to close at 25,345.91, with 32 gainers against 57 losers.
The MSCI Tadawul Index slipped 12.61 points, or 0.92 percent, to 1,362.97.
Top gainers included Lazurde Co. for Jewelry, which jumped 6.11 percent to SR13.02, and Almasane Alkobra Mining Co., up 3.70 percent at SR65.95.
Ataa Educational Co. climbed 3.46 percent to SR64.30, Wafrah for Industry and Development Co. added 3.04 percent to SR25.76, and Aldrees Petroleum and Transport Services Co. advanced 2.91 percent to SR116.70.
On the downside, Thimar Development Holding Co. dropped 9.97 percent to SR45.06, while Saudi Real Estate Co. fell 6.20 percent to SR16.49.
Saudi Cable Co. lost 5.50 percent to SR141, Saudi Fisheries Co., also known as Al Asmak, slipped 4.40 percent to SR92.40, and Ash-Sharqiyah Development Co. declined 4.28 percent to SR16.10.
On the announcement front, Al Moammar Information Systems Co., also known as MIS, said it signed a SR227.8 million contract, including VAT, with the Saudi Authority for Data and Artificial Intelligence for the “Naqaa” Data Center Expansion project in Riyadh.
The 36-month deal is expected to have a positive financial impact starting in the fourth quarter of 2025.
MIS shares closed 0.62 percent lower at SR129.
Meanwhile, the Mediterranean and Gulf Insurance and Reinsurance Co. announced regulatory approval from the insurance authority for its planned merger with Buruj Cooperative Insurance Co. Under the agreement, Buruj will be merged into Medgulf, with its assets, rights, and obligations transferred in exchange for 33.2 million new Medgolf shares issued to Buruj shareholders.
The insurer noted that completion of the merger remains subject to the approval of the Capital Market Authority and the shareholders of both companies.
Medgulf shares edged up 0.13 percent to SR15.67.
