Closing Bell: Saudi Bourses Begin Week in Green

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 5.10 points, or 0.05 percent, to close at 10,631.25. 

The total trading turnover of the benchmark index stood at SR2.32 billion ($620 million), with 95 of the listed stocks advancing and 156 declining. 

The Kingdom’s parallel market Nomu also gained 148.61 points to close at 24,062.44. 

The MSCI Tadawul Index advanced 0.08 percent to 1,394.45. 

The best-performing stock on the main market was Abdullah Saad Mohammed Abo Moati for Bookstores Co., whose share price rose 10 percent to SR47.30. 

The share price of Jahez International Co. for Information System Technology increased 8.32 percent to SR16.80. 

Saudi Azm for Communication and Information Technology Co. also saw its stock price rise 4.87 percent to SR25.40. 

Conversely, the share price of Saudi Industrial Development Co. declined 5.72 percent to SR12.03. 

On the announcements front, Saudi Aramco Base Oil Co., also known as Luberef, said it received a notice from Saudi Arabian Oil Co.

 regarding a feedstock supply agreement for its Jeddah facility. 

The new supply agreement will replace the existing feedstock supply contract, which is set to expire on Aug. 28, 2026, the company said in a Tadawul statement. 

The statement added that the agreement reflects ongoing collaboration between Saudi Aramco and Luberef to ensure continuity of operations at the Jeddah facility beyond 2026.  

With the continuation of operations at the Jeddah facility, Luberef will maintain its current maximum production capacity of 275,000 tonnes per year of Group I base oils. Upon completion of the Growth-II Project in Yanbu, the firm’s total maximum production capacity will reach 1.53 million tonnes per year. 

The share price of Luberef edged down 0.95 percent to SR93.80.