Closing Bell: Saudi Main Index Closes in Green at 11,098

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 47.67 points, or 0.43 percent, to close at 11,098.80.   

The total trading turnover of the benchmark index was SR4.32 billion ($1.15 billion), as 120 of the listed stocks advanced, while only 132 retreated. 

The MSCI Tadawul Index also increased, up 7.21 points, or 0.50 percent, to close at 1,447.21. 

The Kingdom’s parallel market Nomu gained 29.04 points, or 0.12 percent, to close at 23,934.91. This comes as 35 of the listed stocks saw increases, while 38 fell. 

The best-performing stock was Retal Urban Development Co., with its share price surging by 9.98 percent to SR13.34. 

Other top performers included Perfect Presentation for Commercial Services Co., which saw its share price rise by 5.02 percent to SR9, and Al Hammadi Holding, which saw a 4.87 percent increase to SR30.98. 

On the downside, Tihama Advertising, Public Relations and Marketing Co. was the weakest performer of the day, with its share price falling 9.98 percent to SR24.72. 

Allied Cooperative Insurance Group saw its share price fall 5.32 percent to SR10.15, while Saudi Arabian Cooperative Insurance Co. dropped 4.87 percent to SR12.50. 

On the announcements front, Altharwah Albashariyyah Co. has entered into a one-year memorandum of understanding with Shamail Development and Improvement Co., in a move to foster strategic collaboration. 

According to a Tadawul statement, the agreement establishes a framework for the two firms to enhance cooperation in technological development, provide technical and social behavior consulting services, and organize workshops to strengthen partnerships and exchange expertise.  

The non-binding memorandum does not create any immediate financial obligations for either party, with any potential financial impact to be announced should definitive future agreements be reached. 

Altharwah Albashariyyah Co.’s shares did not record any trading changes on the parallel market during today’s session and held at SR39.90.