Arab News | Closing Bell: Saudi stocks close higher as TASI gains 0.78% to 10,681.84

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 82.96 points, or 0.78 percent, to close at 10,681.84.

The total trading turnover of the benchmark index was SR2.48 billion ($661 million), as 160 of the stocks advanced and 98 retreated.

Similarly, the Kingdom’s parallel market Nomu gained 16.97 points, or 0.08 percent, to close at 21,549.21. This comes as 27 of the stocks advanced while 31 retreated.

The MSCI Tadawul Index gained 14.80 points, or 1.04 percent, to close at 1,438.41.

Top gainers, losers

The best-performing stock of the day was Naseej International Trading Co., whose share price surged 5.92 percent to SR13.24.

Other top performers included Ladun Investment Co., whose share price rose 5.38  percent to SR1.96, as well as Ash-Sharqiyah Development Co., whose share price surged 4.65 percent to SR13.51.

Tabuk Agricultural Development Co. recorded the most significant drop, falling 5.45 percent to SR8.50.

Abdullah Saad Mohammed Abo Moati for Bookstores Co. also saw its stock prices fall 4.37 percent to SR35.86.

Nofoth Food Products Co. also saw its stock prices decline 4.19 percent to SR6.40.

Top announcements

On the announcements front, WSM for Information Technology Co. has announced its intention to launch its public sukuk offering and listing on the public Sukuk and Bonds Market, or Saudi Exchange. According to a Tadawul statement, the Sukuk Program Prospectus has been published, and the offering will be available to both retail and institutional investors. The company has appointed Impact46 as the financial advisor and sole arranger for this transaction.

Tanmiah Food Co. has signed a memorandum of understanding with Malaysian food company Tradewinds (M) Berhad to explore strategic collaboration in halal protein products in Malaysia and the wider Asia-Pacific region.

The proposed 12-month collaboration will also include efforts to develop a global halal protein brand, according to a bourse filing.

Tanmiah Food Co. ended the session at SR56.75, up 1.52 percent.

Saudi Arabian Refineries Co. has announced that Lawazem Industrial Advanced Co., owned by one of its subsidiaries, has signed a SR3.4 million subcontract to execute works for the Banan Package 1 Project.

According to a Tadawul statement, the initiative details include manufacturing, supplying, painting, and installing wooden doors. The duration of the project is 136 days, commencing from the commencement date, with delivery continuing until mid-January 2027. The positive financial impact is expected to be reflected in the company’s financial results starting from the third quarter of 2026 through the first quarter of 2027

Saudi Arabian Refineries Co. ended the session at SR54.50, down 0.18 percent.