Arab News, Wed, May 29, 2024 | Dhu al-Qadah 21, 1445
Closing Bell: Saudi main index continues downward trend to close at 11,660
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index continued its downward movement for the
third consecutive session this week, as it shed 171.28 points to close at
11,659.94 on Tuesday.
The total trading turnover of the benchmark index
was SR5.34 billion ($1.42 billion), with 23 stocks advancing and 202 declining.
The Kingdom’s parallel market, Nomu, also slipped
by 0.81 percent to 26,234.79, while the MSCI Tadawul Index shed 20.97 points to
close at 1,449.44.
The best-performing stock on the main index was
Sustained Infrastructure Holding Co. The firm’s share price soared by 6.2
percent to SR34.25.
Other top performers were the Mediterranean and
Gulf Insurance and Reinsurance Co. and AYYAN Investment Co., whose share prices
edged up by 3.98 percent and 3.63 percent respectively.
The worst-performing stock on the benchmark index
was Saudi utility giant ACWA Power, as its share price slid by 4.68 percent to
SR456.60.
On the announcements front, Etihad Atheeb
Telecommunication Co. said that it was awarded two projects worth SR45.51
million by Technical and Vocational Training Corp. to provide dedicated Internet
services in 77 locations.
In a Tadawul statement, the telecommunication
provider said that the first project has a value of SR23.64 million, while the
second one amounts to SR21.87 million.
Meanwhile, Mouwasat Medical Services Co. announced
that its shareholders have approved the board’s recommendation to distribute a
17.5 percent cash dividend, or SR 1.75 per share for 2023.
In March, Mouwasat Medical Services Co. had
revealed that its net profit witnessed a growth of 10 percent in 2023 to SR657.7
million, compared to the previous year.
Al Moammar Information Systems Co., on Tuesday,
revealed that it received new orders to increase the capacity of data centers at
a total value of SR 75.2 million.
In a statement to Tadawul, the company added that
further developments of the order will be unveiled in due course.