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Saudi Arabia's Tadawul index sees slight gains, closed at 11,098
Saudi Arabia's Tadawul All Share Index experienced a modest increase on Tuesday, climbing by 47.67 points, or 0.43 percent, to close at 11,098.80. The overall trading volume reached SR4.32 billion (approximately $1.15 billion), with 120 stocks advancing while 132 saw declines.
The MSCI Tadawul Index also enjoyed an increase, up 7.21 points, or 0.50 percent, closing at 1,447.21. Meanwhile, the Kingdom’s parallel market, Nomu, gained 29.04 points, equivalent to a 0.12 percent rise, concluding the session at 23,934.91. During this period, 35 stocks in the parallel market recorded increases, while 38 fell.
The standout performer was Retal Urban Development Co., with its stock price surging 9.98 percent to reach SR13.34. Other strong performers included Perfect Presentation for Commercial Services Co., which increased by 5.02 percent to SR9, and Al Hammadi Holding, with a 4.87 percent rise to SR30.98.
Conversely, Tihama Advertising, Public Relations and Marketing Co. faced the most significant loss of the day, with its shares plummeting 9.98 percent to SR24.72. Allied Cooperative Insurance Group and Saudi Arabian Cooperative Insurance Co. also faced declines of 5.32 percent and 4.87 percent, respectively.
In notable developments, Altharwah Albashariyyah Co. announced a one-year memorandum of understanding with Shamail Development and Improvement Co. This agreement aims to enhance strategic collaboration between the two firms. It provides a framework for improving technological development, offering technical and social behavior consulting services, and facilitating workshops to strengthen partnerships and share expertise.
The non-binding memorandum does not impose immediate financial obligations on either party, with any potential financial impact to be disclosed if definitive agreements arise in the future. During today's session, shares of Altharwah Albashariyyah Co. remained unchanged on the parallel market, holding steady at SR39.90.