RIYADH: Saudi Arabia’s Tadawul All Share Index inched up on Monday, as it gained 2.14 points or 0.02 percent to close at 11,270.62.
The total trading turnover of the benchmark index stood at SR5.42 billion ($1.45 billion), with 107 of the listed stocks advancing and 152 declining.
The Kingdom’s parallel market Nomu also advanced by 0.54 percent or 128.25 points to close at 23,740.99.
The MSCI Tadawul Index gained 1.91 points to 1,519.48.
The best-performing stock on the main market was Ades Holding Co., as its share price rose by 6.05 percent to SR18.93.
The share price of Consolidated Grunenfelder Saady Holding Co. increased by 5.80 percent to SR10.39.
Almasane Alkobra Mining Co. also saw its stock price climb by 5.24 percent to SR108.40.
Conversely, the share price of Herfy Food Services Co. declined by 3.07 percent to SR16.72.
On the announcements front, Alandalus Property Co. signed a non-binding memorandum of understanding with Sama Aquila Educational Co. to develop, construct, and lease an educational complex, which will be operated by an internal operator.
According to a Tadawul statement, the MoU has a term of 30 days, and it follows the approval of the company’s five-year strategy, which aims to expand real estate development in targeted sectors, diversify the firm’s portfolio, and achieve sustainable growth.
The company added that there is no material financial impact currently, as it is a non-binding MoU, and any developments related to the agreement will be disclosed in due course.
The share price of Alandalus Property Co. edged down by 0.79 percent to SR17.59.
Asas Makeen Real Estate Development and Investment Co. revealed that it signed an agreement with Abdulaziz & Saad Al Moajil Trade & Investment Co. and Dinar Investment Co. to establish a private, closed-ended real estate investment fund valued at SR140 million.
In a Tadawul statement, the company said that the fund will be used to develop residential and commercial units that fulfil market aspirations and modern standards of living.
The positive financial impact of the project is expected to appear on the company’s financial results starting from the date of commencement of project implementation.
The share price of Asas Makeen Real Estate Development and Investment Co. did not witness any changes on Monday, and closed the session at SR84.50.
