Closing Bell: Saudi Main Index Closes in Red at 11,002

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 13.51 points, or 0.12 percent, to close at 11,002.04. 

The total trading turnover of the benchmark index was SR4.44 billion ($1.18 billion), as 95 stocks advanced and 151 retreated. 

The MSCI Tadawul Index also decreased, falling 2.78 points, or 0.19 percent, to close at 1,466.48. 

The Kingdom’s parallel market Nomu gained 40.30 points, or 0.18 percent, to close at 23,006.67. This comes as 39 of the listed stocks advanced, while 25 retreated. 

The best-performing stock was Amana Cooperative Insurance Co., with its share price surging 6.45 percent to SR6.93. 

Other top performers included Al Hammadi Holding, which saw its share price rise 6.40 percent to SR28.60, and Rasan Information Technology Co., which gained 3.68 percent to SR149.30. 

On the downside, Jahez International Co. for Information System Technology posted the steepest decline of the day, falling 3.24 percent to SR14.02. 

Dar Albalad for Business Solutions Co. fell 3.09 percent to SR12.84, while Al Majed Oud Co. declined 3.04 percent to SR134. 

On the announcement front, Saudi Networkers Services Co. signed a five-year renewable framework agreement with a local bank in the Kingdom to provide services. 

The contract value is variable and will be determined through work orders issued in line with agreed terms and conditions. 

Notably, revenue generated under the agreement in 2026 is expected to exceed 15 percent of the company’s total annual revenue, signaling the deal’s material significance to its top line. 

The financial impact is expected to be reflected in the company’s financial statements starting in 2026. Networkers’ share price fell 1.48 percent on Nomu to SR46.50.