Closing Bell: Saudi Main Index Closes in Red at 10,687

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, as it shed 165.14 points, or 1.52 percent, to close at 10,686.62. 

The total trading turnover of the benchmark index was SR4.01 billion ($1.07 billion), with 16 of the listed stocks advancing and 238 declining.

The Kingdom’s parallel market Nomu shed 47.55 points, or 0.20 percent, to close at 24,053.74. 

The MSCI Tadawul Index also edged down by 1.26 percent to 1,397.65. 

Almasane Alkobra Mining Co., known as AMAK, was the best-performing stock on the main market after announcing a major mineral discovery. The company’s share price rose 7.74 percent to SR80. 

In a Tadawul filing, AMAK said it had discovered “potentially economically viable mineral resources” containing copper, zinc, gold and silver within one of its exploration licenses in the Najran region. The company noted that it accelerated exploration immediately after receiving the license in September 2024. 

AMAK added that since February 2025, it has intensified drilling activity and completed more than 27,000 meters across the licensed area. 

Based on preliminary internal studies, the firm estimated a mineral resource of around 11 million tonnes, with further upside potential as drilling has so far covered less than 10 percent of the license area.

While exploration continues, AMAK has begun Development Concept Studies aimed at progressing the site from exploration to a mining license. 

Among the other top gainers were Bonyan REIT Fund, whose share price rose 3.03 percent to SR9.52, while Taiba Investments Co. saw its stock climb 2.26 percent to SR36.20.  

On the downside, Saudi Azm for Communication and Information Technology Co. saw its share price decline 6.10 percent to SR23.10. 

Arabian Centers Co., known as Cenomi Centers, announced the completion of a dollar-denominated, shariah-compliant sukuk issuance valued at $500 million. The company said the sukuk will be settled on Dec. 4, 2025. 

The five-year issuance offers a return of 8.87 percent, with proceeds earmarked to refinance the firm’s existing sukuk issued in 2021 and maturing in October 2026. 

Cenomi Centers also confirmed that an application has been submitted to list and trade the sukuk on the International Stock Exchange. 

The company’s share price was unchanged, closing at SR19.80.