RIYADH: Saudi Arabia’s Tadawul All Share Index dropped for the second consecutive day on Thursday as it shed 112.08 points or 1.01 percent to close at 10,949.42.
The total trading turnover of the benchmark index was SR4.99 billion ($1.33 billion) as 59 stocks advanced, while 147 declined.
While Saudi Arabia’s parallel market Nomu edged down 22.05 points to 22,371.03, the MSCI Tadawul 30 Index also slipped 1.08 percent to close at 1,407.39.
Saudi Public Transport Co. was the best-performing stock of the day. The company’s share price surged 6.98 percent to SR18.40.
Other top performers of the day were National Agricultural Development Co. and Thimar Development Holding Co., whose share prices rose 3.94 percent and 2.86 percent, respectively.
The top loser on Saudi Arabia’s main index was Arabian Contracting Services Co., whose share price slipped 5.45 percent to SR187.20.
National Medical Care Co. also performed poorly with its share price falling 5.22 percent to SR116.20.
On Nomu, Molan Steel Co. and Sure Global Tech Co. were the top gainers, as their share prices increased by 6.09 percent and 5.78 percent, respectively.
The top loser on the parallel market was Naseej for Technology Co., whose share price plunged 7.58 percent to SR61.
On the announcements front, Sadr Logistics Services Co. announced that its board of directors approved the construction of the SR149 million Logistics Services Complex Project in the Industrial Gate City in Riyadh.
In a statement to Tadawul, Sadr revealed that the construction of this project will commence on Oct.1.
The statement further noted that financing of this project will be done through a combination of borrowings and self-financing.
Sadr said the Logistics Services Complex Project is expected to be completed by March 31, 2025, positively impacting the company’s financial performance from the second quarter of 2025.
