Saudi Arabia: Saudi Arabia’s Tadawul All Share Index continued its downward trend for the second consecutive day as it shed 78.35 points to close at 11,775.47. 

The total trading turnover of the benchmark index was SR11.49 billion ($3.06 billion), with 143 stocks advancing and 80 declining. 

The MSCI Tadawul Index also slipped by 0.93 percent on Tuesday to close at 1,472.97.

On a positive note, Saudi Arabia’s parallel market Nomu gained 79.79 points to 26,848.15, with 39 stocks advancing and 27 declining. 

The best-performing stock on the main index was Miahona Co. The firm’s share price soared by 10 percent to SR20.68.

Other top performers of the day were Fawaz Abdulaziz Alhokair Co. and Saudi Chemical Co., whose share prices edged up by 9.35 percent and 8.63 percent, respectively. 

The benchmark index’s worst performer was National Shipping Co. of Saudi Arabia, whose share price slipped 3.25 percent to SR25.30.

The share price of Saudi utility giant ACWA Power also slipped by 2.66 percent to SR366.

The positive performance of Nomu was driven by Osool and Bakheet Investment Co. whose share price surged by 10.30 percent to SR53. 

Meanwhile, the Saudi Exchange announced that Saudi Manpower Solutions Co. will start trading on the main market on June 12. 

According to a Tadawul statement, the upper and lower limits of the daily static fluctuation of the company’s shares would be 30 percent and 10 percent, respectively.

On the announcements front, Thimar Development Holding Co. said that it invested SR6 million in a Capital Market Authority-licensed real estate fund to build a residential tower in Riyadh’s Olaya District.

Meanwhile, shareholders of Tanmiah Food Co. approved the distribution of a cash dividend at 19 percent, or SR 1.9 per share, for 2023.