RIYADH: Saudi Arabia’s benchmark index closed lower on Tuesday, with the Tadawul All Share Index falling 175.08 points, or 1.55 percent, to finish at 11,087.54.
Trading activity remained active, with total volume reaching 287.6 million shares and turnover at SR5.71 billion ($1.52 billion). Decliners significantly outnumbered gainers, with 249 stocks falling compared to 14 advancing, reflecting negative sentiment across sectors.
The parallel market Nomu also ended the session lower, with the index falling 1.11 percent to 22,288.87, while the MSCI Tadawul 30 Index declined 1.33 percent to 1,495.78.
Among the session’s top gainers, Consolidated Grunenfelder Saady Holding Co. rose 6.10 percent to close at SR7.30, while Tourism Enterprise Co. gained 2.84 percent to SR15.20.
Kingdom Holding Co. advanced 2.49 percent to SR9.88, while Middle East Pharmaceutical Industries Co. and Jamjoom Pharmaceuticals Factory Co. posted gains of 1.66 percent and 1.53 percent, respectively.
On the losing side, Saudi Pharmaceutical Industries and Medical Appliances Corp. declined 7.64 percent to SR29.00, marking the steepest drop of the session.
Saudi Arabian Refineries Co. fell 6.72 percent to SR44.68, Tabuk Agricultural Development Co. dropped 6.61 percent to SR6.50, while Saudi Vitrified Clay Pipes Co. declined 5.89 percent to SR17.90.
On the announcement front, Al Rajhi Capital said, in its capacity as fund manager of Al Rajhi REIT Fund, that it has signed new Shariah-compliant financing facilities totaling SR2.5 billion with Al Rajhi Bank and Saudi Awwal Bank.
The agreements include SR1.75 billion in financing from Al Rajhi Bank and SAR 750 million from Saudi Awwal Bank. The facility from Al Rajhi Bank has a duration of seven years from the date of drawdown, while the Saudi Awwal Bank facility carries a five-year term.
The fund manager said the financing will be used to refinance existing obligations and support future acquisitions aimed at maximizing returns for unit holders, while maintaining the fund’s financing ratio within the 50 percent cap of total assets, in line with its terms and conditions.
Units of Al Rajhi REIT Fund closed at SR8.16, down 0.37 percent on the day.
